Refer to the table below. If Sweet Grams is a perfectly competitive firm and the market price $1.00 per unit, what is the profit-maximizing quantity for Sweet Grams to produce at Plant 2?
Sweet Grams makes graham cracker snack packages. Sweet Grams is a multi-plant firm with two production facilities. The above table summarizes the total marginal cost of production at various output levels in the separate plants. Assume Sweet Grams is a perfectly competitive firm.
A) 20,500
B) 22,500
C) 27,000
D) 24,000
B) 22,500
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Income in kind is defined as
A) income received in the form of a paycheck. B) payment for services in the form of cash. C) tips. D) income received in the form of goods and services.
Since 1802, the average annual compound return for stock holdings, adjusted for inflation, has been approximately
a. 2 percent. b. 7 percent. c. 15 percent. d. 30 percent.
Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. When the firm hires 6 workers the firm produces 90 units of output. Fixed costs of production are $6 and the variable cost per unit of labor is $10 . The marginal product of the seventh unit of labor is 4 . Given this information, what is the average total cost of production when the firm hires 7
workers? a. $10.06 b. $9.64 c. 81 cents d. 70 cents
Which one of the following is a source of conflict between owners and managers?
A. Managers and owners are both risk-takers. B. Managers are more risk-averse, whereas owners are not. C. Managers are less risk-averse, whereas owners are not. D. Managers and owners are both highly risk-averse.