La Super Rica is a taco stand in Santa Barbara, California. It is popular with the locals and even the late Julia Child found the food delicious
If La Super Rica is currently producing where marginal revenue is greater than marginal cost, to increase its profit La Super Rica should A) increase production.
B) decrease production.
C) not change its production because it is maximizing its profit.
D) Not enough information is given to determine what La Super Rica should do.
A
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Discuss some of the factors that lead infant manufactured goods industries to become more efficient over time, and some of the factors that might lead them to fail to do so
What will be an ideal response?
Macroeconomics primarily examines: a. the behavior of firms
b. how prices are determined in markets. c. broad issues such as inflation. d. the cost-minimizing conditions for business firms.
The U.S. tariff on paper ____ the U.S. price of paper, _____ U.S. production of paper and _______the U.S. gains from trade
A. raises; increases; increases B. doesn't change; increases; increases C. doesn't change; doesn't change; decreases D. raises; increases; decreases
The United States Post Office
A) has a monopoly in the provision of first-class mail service. B) can safely ignore the prices for mail services charged by its rivals such as FedEx and UPS. C) is an example of a monopoly that results from the ownership of a key resource: first class mail service. D) faces no competition for its mail services.