One example of a microeconomic question is, "Should unemployment benefits be increased?"
Answer the following statement true (T) or false (F)
False
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Refer to the table below. If Sweet Grams is a perfectly competitive firm and the market price $1.25 per unit, what is the profit-maximizing total quantity for Sweet Grams to produce?
Sweet Grams makes graham cracker snack packages. Sweet Grams is a multi-plant firm with two production facilities. The above table summarizes the total marginal cost of production at various output levels in the separate plants. Assume Sweet Grams is a perfectly competitive firm.
A) 27,000
B) 30,100
C) 57,100
D) 68,000
If duopoly firms that are not colluding were able to successfully collude, then
a. price and quantity would rise. b. price and quantity would fall. c. price would rise and quantity would fall. d. price would fall and quantity would rise.
Which of the following would most likely increase the demand for peanut butter?
What will be an ideal response?
A normal good is one:
A. whose amount demanded will increase as its price decreases. B. whose amount demanded will increase as its price increases. C. whose demand curve will shift leftward as incomes rise. D. for which the consumption varies directly with income.