Figure 8.2 shows demand and costs for a monopolistically competitive firm. In the long run we expect:
A. the firm's demand curve to shift to the right.
B. the firm's marginal revenue curve to shift to the left.
C. the firm's average cost curve to shift upward.
D. the firm's marginal cost curve to shift downward.
Answer: B
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Refer to Table 15-3. If Comcast wants to maximize its profits, what price (P) should it charge and how many cable subscriptions per month (Q) should it sell?
A) P = $12; Q = 8 B) P = $16; Q = 4 C) P = $14; Q = 6 D) P = $15: Q = 5
Suppose that a price-discriminating producer divides its market into two segments
If the firm sells its product at a price of $34 in the market segment with relatively less-elastic customer demand, the price in the market segment with more-elastic customer demand will be A) less than marginal revenue in that market segment. B) less than $34. C) equal to marginal revenue in that market segment. D) greater than $34.
It is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment
a. True b. False Indicate whether the statement is true or false
Suppose the interest rate is 7 percent. Consider four payment options: Option A: $500 today. Option B: $550 one year from today. Option C: $575 two years from today. Option D: $600 three years from today. Which of the payments has the highest present value today?
a. Option A b. Option B c. Option C d. Option D