Which of the following is an example of an organization using marginal analysis?
a. A hotel manager calculating the average cost per guest for the past year
b. A farmer hoping for rain.
c. A government official considering what effect an increase in military goods production will have on the production of consumer goods.
d. A business calculating economic profits.
c
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Use the information in the table below.Total salesIndustry 1Firm 1$5.3mFirm 2$199,000Firm 3$2.6mFirm 4$850,000What percent of total sales does Firm 1 make up in Industry 1?
A. 89% B. 53% C. 59% D. 25%
A monopolist has the power to set price, but is not entirely free to set the price of its product. Explain
What will be an ideal response?
Refer to the information provided in Figure 13.6 below to answer the question that follows.
Figure 13.6 Refer to Figure 13.6. The profit-maximizing level of output for the Memory Company is ________ high school yearbooks.
A. 0 B. 200 C. 300 D. 350
The term "Global South" refers to
A. the Southern states of the United States. B. countries in the Southern Hemisphere. C. industrialized countries south of the equator. D. developing countries in Asia, Africa, and Latin America.