Table 7.2 contains price, demand, and cost data for the Capri Theater, the only first-run movie theater in a small town. What is its revenue from non-students under the single price policy?
A. $300
B. $360
C. $450
D. $540
Answer: B
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Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080Who should specialize in knitting scarves?
A. Natalia B. Alexandra C. Both Natalia and Alexandra D. Neither Natalia nor Alexandra
When the market is in long-run equilibrium in a perfectly competitive market, this implies that in the long run means
A. no firm in the industry has an incentive to exit. B. no firm outside the industry has an incentive to enter. C. no firm in the industry has an incentive to increase or decrease its output. D. all of these conditions are met in the long run equilibrium.
Public goods are usually provided by
a. private industry in private markets b. the government c. producers who produce for consumers, that is, for the public d. internal markets e. the public, such as you and your neighbors
Use the figure below to answer the following question.
A movement along the supply schedule from point x to point y depicts
A. a decrease in supply. B. an increase in quantity supplied. C. a decrease in quantity supplied. D. an increase in supply.