This producer
A. is a perfect competitor.
B. is an imperfect competitor.
C. could be either a perfect or imperfect competitor.
A. is a perfect competitor.
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Suppose Sarah owns a small company that makes wedding cakes. The table below shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number ofCakes Per DayTotal CostPer Day0$1001$1802$2203$3004$4005$5206$660If Sarah's fixed costs double, then in the short run, her profit-maximizing level of output:
A. will increase. B. will shrink to zero if she starts earning a loss. C. will decrease. D. will not change.
As the number of firms in a market increases, the supply curve will shift to the right and the equilibrium quantity will rise
Indicate whether the statement is true or false
The label "discouraged worker" refers to a change of status from ________
A) employed to actively seeking employment B) unemployed to employed C) unemployed to not in the labor force D) not in the labor force to unemployed
On a straight line demand curve, total revenue is the same at every point on the demand curve.
Answer the following statement true (T) or false (F)