An example of peak pricing is charging
A. more for long-distance phone calls in the daytime.
B. less for electricity at night.
C. more for public transportation in rush hours.
D. All of the above are true.
Answer: D
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If the price of one input changes, the firm will change its use of that input only
a. True b. False Indicate whether the statement is true or false
A computer manufacturer sells 1,000 units per month at $500 each. A price cut to $400 is being considered. His marginal cost is constant at $300 per unit. To maintain profits, quantity sold must increase to at least
a. 1,500. b. 2,000. c. 2,500. d. 3,000.
Figure 4-24
Refer to . The per-unit burden of the tax on sellers is
a.
P3 - P1.
b.
P3 - P2.
c.
P2 - P1.
d.
Q2 - Q1.