Refer to the cost table below. The firm will produce its output only if the price is at least equal to what minimum level?
The table shows cost data for a firm that is selling in a purely competitive market.
A. $3
B. $4
C. $6
D. $9
B. $4
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Refer to Scenario 12.3. What price would this new drink sell for if it sold in a competitive market?
A) 0 B) $3 C) $13.50 D) $16.50 E) $27
Rivalry among firms would tend to be highest if
a. the industry is growing quickly b. the industry is growing slowly c. the industry is shrinking d. None of the above
Considering the concept of rational behavior, which of the following requests will likely get the most help?
a. Could you call me at your convenience to give me tips about investing? b. Could you meet with me right away to give me investment advice? c. Could you provide me with a detailed list of investment advice as soon as possible? d. Could you drive 20 miles to my house to give me investment advice?
If firms sell less output than expected, planned investment:
A. is greater than actual investment. B. equals zero. C. is less than actual investment. D. equals actual investment.