You are considering buying a store. In order to better access your return on the investment, you must ask the storeowner for the figures on days when
a. Sales are high, costs are low
b. Sales are low, costs are high
c. Both sales and costs are high
d. All of the above
d
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The above figure shows the apartment rental market in Bigtown. If the Bigtown Housing Authority imposes a rent ceiling of $1,000 per month, the ceiling will
A) help all renters. B) help some renters and hurt other renters. C) help all landlords. D) have no effect at all on the Bigtown rental market.
Why should a firm not produce more than the rate of output at which marginal revenue equals marginal cost?
What will be an ideal response?
The marginal product of labor is the
a. cost of one worker b. average output per worker c. change in revenue from selling one more unit of output d. change in revenue from using one more unit of labor e. change in output from using one more unit of labor
The accompanying graph shows the cost curves for Moe's mushroom gathering business, which is perfectly competitive. 
If mushrooms sell for $10 per bushel, and Moe chooses the profit-maximizing quantity, he will gather:
A. zero bushels. B. 20 bushels. C. 30 bushels. D. 50 bushels.