Refer to Figure 16-2. Suppose Plato Playhouse charges a single price of Pd for each performance. Which of the following statements is true?
A) The company is selling less than the profit-maximizing quantity in the non-student market and more than the profit-maximizing quantity in the student market.
B) The company is selling less than the profit-maximizing quantity in both markets.
C) The company is selling less than the profit-maximizing quantity in both markets but it is maximizing its revenue.
D) The company is selling more than the profit-maximizing quantity in the non-student market and less than the profit-maximizing quantity in the student market.
D
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What is a fiduciary monetary system?
What will be an ideal response?
The National Labor Relations Board
a. enforces antitrust laws against unions. b. enforces workers' rights to unionize. c. acts as a union's representative in collective bargaining. d. is required to approve all collective bargaining agreements before they can be enforced.
The marginal cost of consuming another unit of a good:
A. must exceed the marginal benefit or the unit will not be consumed. B. equals the total cost of consuming all prior units. C. equals the increase in total cost when another unit is consumed. D. must equal the marginal benefit or the unit will not be consumed.
In the long run, a perfectly competitive firm will
A) be able to make an economic profit. B) produce but incur an economic loss. C) make zero economic profit. D) not produce and will incur an economic loss equal to its total fixed cost. E) not produce but not incur an economic loss.