Jose owns a local coffee shop. When Jose calculates how his total revenue changes in response to hiring an extra worker, Jose is calculating the
A) marginal revenue.
B) value of marginal product of labor.
C) marginal product of labor.
D) total revenue.
B
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Refer to the table below. Busy Betty sells her cakes for $20 each and her constant marginal cost to produce each cake is $12, which is equal to her (constant) average total cost. What is her expected marginal benefit from holding the 23rd cake in inventory?
The above table shows the probability distribution of cake sales at Busy Betty's Bakery.
A) $3.20
B) $8.00
C) $4.80
D) $8.20
"Demand curves slope down, so the demand curve faced by a perfectly competitive firm must also be downward sloping." Do you agree or disagree? Why?
What will be an ideal response?
What is the firm's contribution margin?
a. $1800 b. $800 c. $1000 d. $300
Barter is a system of exchange that does not depend on a coincidence of wants
a. True b. False Indicate whether the statement is true or false