If Ep is 2500 and Y is 3000, then companies will
A) reduce orders and production by 500.
B) increase orders and production by 500.
C) wait for final sales to increase.
D) wait for final sales to decrease.
A
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Refer to Figure 16-5. Suppose the firm represented in the diagram decides to use a two-part pricing strategy such that it charges a fixed fee and a per-unit price equal to the competitive price
(This is also called an optimal two-part tariff.) What is the per-unit price it should charge, if any? A) It should not charge a price per unit; just a flat fee to consume as much of the product as desired. B) It should charge a range of prices from $40 to $12. C) $12 D) $16
In general, the cost of an input:
A. decreases when you've reached the point of diminishing marginal product in your firm. B. is minimized when you've reached the point of diminishing marginal product in your firm. C. stays the same when you've reached the point of diminishing marginal product in your firm. D. increases when you've reached the point of diminishing marginal product in your firm.
If a good is free, people will continue to increase consumption until total utility is equal to zero
Indicate whether the statement is true or false
The true cost of borrowing is the nominal interest rate
Indicate whether the statement is true or false