Refer to the table below. If Stuffed Pies is currently producing 5 units of quality, to maximize profit, Stuffed Pies should ________ the units of quality.
Stuffed Pies is a frozen calzone manufacturer. The table above summarizes Stuffed Pies' marginal revenue and marginal cost of quality at various quality amounts.
A) decrease
B) not change
C) increase
D) decrease by 50 percent
C) increase
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What leads to a decrease in the quantity supplied of a good or service?
What will be an ideal response?
If the minimum efficient scale of production is small relative to the size of a market, then
a. the industry will tend to be highly concentrated b. there will be much strategic interdependence among the sellers in the industry c. the industry is unlikely to be an oligopoly d. it is more likely that sellers in the industry will successfully collude e. there will be much merger activity in the industry
At any point on an indifference curve, the slope indicates:
A. the way the consumer's budget is allocated between the two goods. B. the market rate of substitution between the two goods. C. how the total satisfaction of the consumer changes with different market baskets. D. None of the statements is correct.
Refer to the information. If the price of product A is $0.50, the firm will realize:
Answer the question on the basis of the following information: Suppose 30 units of product A can be produced by employing just labor and capital in the four ways shown below. Assume the prices of labor and capital are $2 and $3 respectively.
A. an economic profit of $4.
B. an economic profit of $2.
C. an economic profit of $6.
D. a loss of $3.