Refer to the information below. Based on cost-benefit analysis, Normal University should undertake Level:
Answer the question based on the following information. Normal University has found it necessary to institute a crime-control program on its campus to deal with the high costs of theft and vandalism. The university is now considering several alternative levels of crime control. This table shows the expected annual costs and benefits of these alternatives.
A. Two
B. Three
C. Four
D. Five
C. Four
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Suppose a monopolist's demand curve is P = 60 - Q, and its cost function is C = 10Q + 50 so its marginal cost is 10. If a governmental agency wished to set the price that maximized social welfare, that price would be
A) $10.00. B) $11.02. C) $14.57. D) $35.00.
The Sudsy Soda Company will not sell its soft drinks to a restaurant unless that business also buys paper cups from Sudsy. This requirement is an example of
A) product versioning. B) tie-in sales. C) price differentiation. D) complementary pricing.
A perfectly competitive firm’s short-run supply is infinite at the market price.
Answer the following statement true (T) or false (F)
If government officials are mainly interested in generating tax revenue, then they should tax goods for which demand is price inelastic.
Answer the following statement true (T) or false (F)