Given that the firm wants to sell both the versions, how high can the no-name brand be priced?
a. $30
b. $40
c. $60
d. $70
b
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Refer to Scenario 1-3. Had the firm not produced and sold the last 400 t-shirts, would its profit be higher or lower, and if so by how much?
A) Its profit would be $800 higher. B) Its profit would be $4,000 lower. C) Its profit would be $4,800 higher. D) Its profit would be $800 lower.
When UPS implemented changes which allowed it to deliver more packages with the same number of workers and planes, this represented a positive technological change
Indicate whether the statement is true or false
A labor union is a group of
a. employees who join together to improve their working conditions b. firms that join together to hire workers c. firms that work together to negotiate better prices in the market d. farmers who work together to receive better prices for their agricultural products e. workers and firm owners who join together to improve working conditions
Economic growth is measured by the annual percentage increase in a nation's level of:
a. nominal GDP. b. real GDP. c. real GDP deflator. d. economic indicators.