The percentage markups that sellers use
What will be an ideal response?
differ among all kinds of businesses.
You might also like to view...
A trough is the
A) lower turning point of a business cycle when an expansion begins. B) lower turning point of a business cycle when a recession begins. C) upper turning point of a business cycle when an expansion begins. D) upper turning point of a business cycle when a recession begins.
Suppose that roofers are not unionized. If roofers unionize, then the supply of labor in other sectors of the economy will
a. decrease, raising wages in industries that are not unionized. b. decrease, reducing wages in industries that are not unionized. c. increase, raising wages in industries that are not unionized. d. increase, reducing wages in industries that are not unionized.
At any point where a monopolist's marginal revenue is positive, the downward-sloping straight-line demand curve is:
A. perfectly elastic, as is the perfectly competitive firm's. B. elastic but not perfectly elastic, and a perfectly competitive firm's demand curve is perfectly elastic. C. elastic but not perfectly elastic, as is the perfectly competitive firm's. D. inelastic, while a perfectly competitive firm's demand curve is perfectly elastic.
If you eat at a Las Vegas casino that charges $12 for its all you can eat buffet, then the marginal cost of your third trip to the buffet line is
A. zero. B. $4. C. $12. D. $36.