Refer to Table 4-3. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the price of polo shirts decreases from $15 to $10
A) producer surplus will fall from $13 to $3.
B) consumers will buy no polo shirts.
C) there will be a shortage of polo shirts.
D) the marginal cost of producing the third polo shirt will increase to $25.
A
You might also like to view...
The uncertainty costs of inflation cause ________ because ________
A) a decrease in investment and slower growth; people focus on the long run and not the short run B) an increase in investment and faster growth; people focus on the short run and not the long run C) a decrease in investment and slower growth; people increase their demand for money D) a decrease in investment and slower growth; people focus on the short run and not the long run E) an increase in investment and faster growth; people decrease their demand for money
General sales taxes totaled 226.7 billion dollars as a source of state revenue in 2008.
A. True B. False C. Uncertain
What's the relationship between total utility (TU) and marginal utility (MU)?
a. MU of a good is the sum of its TU, assuming that TU is positive b. MU is the change in TU divided by the change in quantity c. MU is TU divided by the quantity of goods consumed d. TU of a good is the sum of all changes in the MUs of that good e. MU = TU as long as the change in TU is constant
Each year, most U.S. companies bring a Certified Public Accountant (CPA) firm to audit their books. This is an example of
A. the benefits of decentralization or outsourcing. B. separation of decision management and decision control. C. a lack of trust between the companies and the managers. D. the impact of influence costs.