Suppose you bought a ticket to a football game for $30 and that you place a $35 value on seeing the game. If you lose the ticket, then what is the maximum price you should pay for another ticket? Assume that losing the ticket does not alter how you value it
a. $5
b. $30
c. $35
d. $65
c
Economics
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Which of the following is FALSE for a profit-maximizing single-price monopolist?
A) P = MC B) MC = MR C) P > MR D) None of the above because they are all true.
Economics
What does a firm's LRAC curve show? How is it related to the firm's short-run ATC curves?
What will be an ideal response?
Economics
An increase in market demand will cause an increase in industry output in the long run because
A. new firms enter the industry. B. new firms enter the industry and all firms increase their output. C. all firms decrease their output but more new firms enter. D. no firms enter but the existing firms increase their output.
Economics
voluntary trade
What will be an ideal response?
Economics