A firm's sunk costs are $100,000 and its marginal costs are $250 per unit. It produces 500,000 units and prices it at $400 per unit., How low can price go before the firm decides to shut down?
a. $150
b. $250
c. $250.20
d. $400
b
You might also like to view...
The key dimension of deepening human capital in the U.S. economy focuses more on a higher average level of work experience than on additional education and training
a. True b. False Indicate whether the statement is true or false
Which of the following statements best depicts laypeople's explanation of the Great Depression at that time?
A. Unions were keeping the good jobs for themselves. B. An oversupply of goods had glutted the market. C. Government policies kept prices too high. D. An oversupply of goods is impossible.
_____________ comes in the form of wages, interest, rent, profit, and even from goverment programs.
a. Spending b. Taxes c. Transfers d. Income
How can the Federal Reserve actually increase the money supply?
A. by delaying transfer of money among banks B. by raising the discount rate C. by doubling the reserve requirement D. by purchasing more government bonds in the open market