A firm will operate if ________ are greater than ________; a firm will shutdown if ________ are greater than _________.
Fill in the blank(s) with the appropriate word(s).
total revenue; variable costs; variable costs; total revenue
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Refer to the table below. If Sweet Grams is a perfectly competitive firm and the market price $1.00 per unit, what is the profit-maximizing total quantity for Sweet Grams to produce?
Sweet Grams makes graham cracker snack packages. Sweet Grams is a multi-plant firm with two production facilities. The above table summarizes the total marginal cost of production at various output levels in the separate plants. Assume Sweet Grams is a perfectly competitive firm.
A) 47,000
B) 22,500
C) 24,500
D) 52,000
Which of the following is most likely to cause the dollar to depreciate?
What will be an ideal response?
When a consumer must take some sort of additional action to receive a lower price, the consumer is being subjected to:
A. "bait and switch" sales tactics. B. the "rebate and wait" method of price discrimination. C. perfect price discrimination. D. the "hurdle" method of price discrimination.
U.S. immigrants (legal and illegal) have:
A. higher prison rates and crime rates than the native-born population. B. lower prison rates and crime rates than the native-born population. C. lower prison rates, but illegal immigrants have higher crime rates than the native-born population. D. higher prison rates, but lower crime rates, than the native-born population.