A typical corn farmer won't use cost-plus-markup pricing because
A) his costs are low enough.
B) he isn't interested in maximizing net revenue.
C) he strives for markdown pricing, not markup pricing.
D) he has no control over the market price of corn.
D
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Markets in which the Herfindahl-Hirschman index ________ are considered moderately concentrated
A) is less than 1,000 B) is zero C) is between 1,000 and 1,800 D) is above 1,800
The distribution process performed by the price system is not as efficient as the distribution process of central planners
a. True b. False Indicate whether the statement is true or false
The First Fundamental Theorem of Welfare Economics requires
A. producers and consumers to be price takers. B. that there be a market for every commodity. C. that the economy operate at some point on the utility possibility curve. D. all of these answer options are correct.
Other things being equal, if the average fixed cost curve shifts upward at all output levels:
A. the marginal cost curve shifts upward at all output levels. B. the average variable cost curve shifts upward at all output levels. C. the average total cost curve remains unchanged at all output levels. D. the vertical distance between the average total cost curve and the average variable cost curve increases at all output levels.