The figure above shows the demand and cost curves facing a price-setting firm. What is marginal revenue when output is 100 units?
A. $10
B. $35
C. $25
D. $20
E. $30
Answer: E
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Ronald Coase's analysis of externalities emphasizes the importance of:
a. command-and-control regulations. b. effluent taxes. c. property rights. d. international sovereignty.
A monopolistic competitor maximizes profit by producing 800 units of a good. If the profit-maximizing price is $45, its total revenue is _____
a. $31,000 b. $45,000 c. $36,000 d. $80,045
Entry into a market by new firms will increase the
a. supply of the good. b. profits of existing firms. c. price of the good. d. marginal cost of producing the good.
Every month, the Bureau of Labor Statistics surveys 160,000 business establishments to help determine the
a. number of people unemployed. b. number of jobs the economy has gained or lost. c. size of the labor force. d. number of people who own their own businesses.