Suppose the per-unit production cost of a book is $4.00 and the retail price is $32
If the book publisher sells books to a bookstore at a 40 percent discount, what is the amount of the publisher's markup per book? Assume that bookstores sell books at the retail price.
A) $12.80 B) $15.20 C) $19.20 D) $21.60
B
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Is the profit-maximizing price-taking firm able to mark up price above the marginal costs of production at the profit-maximizing level of output? Why or why not?
What will be an ideal response?
The Index of Economic Freedom measures the market concentration in an economy
a. True b. False Indicate whether the statement is true or false
Tom's opportunity cost of mowing a lawn is 2 loads of laundry. Jen's opportunity cost of mowing a lawn is 1.5 loads of laundry. What is the range of prices for mowing a lawn at which Tom and Jen could both benefit from trade?
In general, countries with well-defined property rights, less government regulation, and lower taxes have
A. Higher per capita incomes. B. Higher rates of investment. C. Higher rates of economic growth for the entire population. D. More corruption and crime.