Bob's Butcher Shop is the only place within 100 miles that sells bison burgers. Assuming that Bob is maximizing his profit, which of the following statements is true?
a. The price of Bob's bison burgers will be less than Bob's marginal cost.
b. The price of Bob's bison burgers will exceed Bob's marginal cost.
c. The price of Bob's bison burgers will equal Bob's marginal cost.
d. Costs are irrelevant to Bob because he is a monopolist.
b
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Direct costs of a public sector investment project are generally easier to measure than the direct benefits
a. true b. false
A . Explain how the existence of the Federal Savings and Loan Insurance Corporation (FSLIC) may unintentionally have increased the number of S&L failures in the 1980s and 1990s. b. What safeguards can help prevent this from happening?
Alvin can produce either 18 chairs or 9 tables in a week, while Dean can produce either 16 chairs or 4 tables in a week. If the terms of trade are established as 1 table for 2 chairs, there are no incentives for Alvin to specialize and trade with Dean
a. True b. False Indicate whether the statement is true or false
China has roughly how much of the world's population?
A. 40 percent. B. 30 percent. C. 20 percent. D. 10 percent.