Owners of a parking lot are deciding whether or not to add more parking spaces to the lot. The owners should stop adding parking spaces where:
a. LRMR=LRMC
b. LRMR>LRMC
c. LRMR
a
You might also like to view...
Successful price discrimination cannot take place if
A) customers are not able to resell the product. B) the market is perfectly competitive. C) the demand curve facing the firm is downward sloping. D) the market can be segmented into different buyer groups.
Given the annual rate of inflation, the "Rule of 70" allows one to:
A. calculate the accompanying rate of unemployment. B. determine when the value of a real asset will approach zero. C. determine whether the inflation is demand-pull or cost-push. D. calculate the number of years required for the price level to double.
Which of the following statements is true?
A. A mineral rights auction is not the same as a common-value auction. B. An auctioneer is always indifferent between different kinds of auctions. C. An English auction always yields lower expected revenues than a second-price, sealed-bid auction. D. The Dutch and first-price, sealed-bid auctions are strategically equivalent.
Refer to the information provided in Figure 6.5 below to answer the question(s) that follow.
Figure 6.5Refer to Figure 6.5. Molly's budget constraint is BD. If the price of CDs decreases, her new budget constraint becomes
A. CD. B. AD. C. EF. D. AO.