In Figure 5.7, assuming perfect competition, which price is associated with profit being exactly normal? 
A. MR1
B. MR2
C. MR3
D. MR4
Answer: C
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Which investment bank filed for bankruptcy on September 15, 2008 making it the largest bankruptcy filing in U.S. history?
A) Lehman Brothers B) Merrill Lynch C) Bear Stearns D) Goldman Sachs
When economies of scale exist:
a. per unit production costs increase as output expands b. per unit production costs decline as output expands. c. marginal cost must decrease as output expands. d. per unit production costs remain constant as output expands.
You are the manager of a firm that sells its product in a monopolistically competitive market with (inverse) demand given by P = 50 ? 0.5Q. Your firm's cost function is C = 40 + 5Q2. Your firm's marginal revenue is:
A. MR = 100 ? Q. B. MR = 50 ? 0.5Q. C. MR = 50 ? Q. D. There is insufficient information to determine the firm's marginal revenue.
___ are controllable components of the communication process
Fill in the blank(s) with the appropriate word(s).