In the above figure, total cost for this profit-maximizing monopolistically competitive firm is
A) $91,000.
B) $50,000.
C) $70,000.
D) $72,000.
C
You might also like to view...
Karl Marx predicted that the exploitation of workers would cause capitalism to self-destruct
a. True b. False Indicate whether the statement is true or false
Pinnacle Finance Bank has a 12 percent reserve requirement ratio. What is Pinnacle Finance’s money multiplier?
a. 6 b. 1.2 c. 8.33 d. 12
The above table shows the daily production possibilities for a bakery. Currently the bakery bakes 60 pizzas and 180 loaves of bread, that is at alternative C.Using the above table, what is the opportunity cost of moving from alternative C to alternative D?
A. 30 loaves of bread B. 60 loaves of bread C. 1/2 loaf of bread D. 2 loaves of bread
The value of total output decreases when labor leaves one industry and goes to another and capital leaves the second industry and goes to the first. This indicates that
A) the first situation was not efficient. B) the second situation is efficient. C) price is greater than marginal cost. D) it would be efficient to return to the first situation.