The figure above shows depicts the marginal revenue and costs of a perfectly competitive firm. The price the firm charges is
A) $4 per unit.
B) $8 per unit.
C) $16 per unit.
D) None of the above answers is correct.
C
You might also like to view...
Compared to Treasury bills, commercial paper
A) has no default risk. B) does not have much of a secondary market. C) has a lower yield. D) sells at a higher price for.
Appendix: In Dutch auctions, the bidding
a. starts low and rises until the highest bidder wins. b. is done in secret "sealed bids" which are opened at a specified time. c. begins with a very high price, and is reduced until the first person takes it. d. is accomplished by giving the price of the second highest bid to the highest bidder.
Which statement is true if the monopolist can observe the consumer's type in the nonlinear-pricing application?
a. The monopolist supplies the consumer with as much of the good as if it were competitively priced. b. The monopolist's profit approaches the upper bound from the simple linear pricing problem. c. The monopolist extracts all of the surplus from the low type but not the high type. d. The monopolist extracts all of the surplus from the high type but not the low type.
The term ‘u' in an econometric model is usually referred to as the _____.
A. error term B. parameter C. hypothesis D. dependent variable