Kevin's Golf-a-Rama sells golf balls in a perfectly competitive market. At its current level of golf ball production, Kevin has marginal costs equal to $2. If the market price of golf balls is $1, Kevin should:
A. decrease the level of golf ball production.
B. continue producing the current level of production.
C. increase the production of golf balls.
D. raise the price of its golf balls.
Answer: A
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Among male workers over age 25, about what percent has a college degree? What is this percentage for black male workers over age 25?
Which one of these is not a major aim (or goal) of bankers?
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If sneakers and hiking boots are substitutes and the price of sneakers falls, what will happen?
A. Demand for sneakers will rise. B. Demand for sneakers will fall. C. Demand for hiking boots will rise. D. Demand for hiking boots will fall.