An oligopolistic firm finds that marginal revenue can range from $10 to $25 at an output level of 2500 units. This information would suggest that the oligopolistic model for this industry is most likely one of:
A. kinked demand.
B. price leadership.
C. cost-plus pricing.
D. collusive pricing.
Answer: A
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Given that food production is crucial to an economy, why shouldn't governments subsidize farmers' water use?
What will be an ideal response?
"Satisficing" rather than "maximizing" primarily emerges under conditions where
a. information is costly. b. management lacks ambition. c. profit maximization is rejected on moral grounds. d. risk is minimal.
Refer to the accompanying table below. The average benefit of 4 units of activity is:Units of ActivityTotal CostTotal Benefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $9 B. $4 C. $5 D. $10
An increase in the minimum wage will tend to cause which of the following?
A) an upward shift in the WS curve B) a downward shift in the WS curve C) an upward shift in the PS curve D) a downward shift in the PS curve E) none of the above