At the profit-maximizing level of output, marginal profit
A) is also maximized.
B) is zero.
C) is positive.
D) is increasing.
E) may be positive, negative or zero.
B
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Always Round Tire has been in the tire business since 1963. It has several plants with different levels of technology. Over the years, the company has worked with its employees to figure out how to produce a tire for less. This incumbent advantage the firm has over potential newcomers is the
A. result of scale economies. B. effect of its learning curve. C. impact of licenses and patents. D. clear threat of using its excess capacity.
The difficulty of ascertaining the right second-best trade policy to follow
A) reinforces support for the third-best policy approach. B) reinforces support for increasing research capabilities of government agencies. C) reinforces support for abandoning trade policy as an option. D) reinforces support for free-trade options. E) reinforced support for the domestic market failure argument.
How will the following affect the reliability of a consumer price index if the consumer price index's base year hasn't changed in 25 years? a . Consumers collect and use frequent-flyer miles to buy airline tickets. b. Legislation passes that allows
consumers to request generic instead of name brand drugs. c. Old camcorders have black and white viewfinders, while newer models have color viewfinders.
According to the following graphs, at point B,
The price of Y is $15 per unit.
A. the consumer's utility is greater than it is at point A. B. the consumer can exchange one unit of X for one unit of Y and keep income unchanged. C. the marginal rate of substitution of X for Y is greater than it is at point A. D. both a and b E. all of the above