Sources of productivity growth include all of the following except:
A. An increase in the ratio of capital to labor.
B. An increase in the price level.
C. Better use of available resources in the production process.
D. An increase in labor skills.
B. An increase in the price level.
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What will be an ideal response?
Suppose a monopoly produces film and cameras. Consumers demand pictures, which require film and one camera
Two different types of consumers have the following demand for film, qA = 100 - 10p and qB = 80 - 10p. The monopoly cannot price discriminate in the market for film or the market for cameras, but it can bundle the products. The monopoly produces film at a constant marginal cost of $1 per roll. What price will the monopoly set for film and for cameras?
Firm A producing one good acquires another firm B producing another good. The cross price elasticity of demand for the goods owned by each firm is 2.6 . Holding other things constant, the acquiring firm should
a. Raise prices on both goods b. Lower prices on both goods c. Raise price on the acquired good only d. Need more information
This profit-maximizing firm is making a profit or loss of about ________.
A. $200
B. $280
C. $400
D. -$280