MC equals
A. ?VC/?Q.
B. VC/Q.
C. ?TC/?Q.
D. FC/Q.
Answer: C
You might also like to view...
If the marginal value of a third soda is $1.50 to Jackie, then
a. Jackie would be willing to pay no more than $4.50 for three sodas. b. Jackie places a total value of less than $4.50 on three sodas. c. Jackie would pay no more than $1.50 for an additional soda when she has already consumed 2 sodas. d. Jackie would pay no more than $1.50 for any soda.
Costs paid in money to hire a resource is
A) normal profit. B) an implicit cost. C) an explicit cost. D) an alternative-use cost. E) economic profit.
Negative market feedback refers to a tendency for
A) one or two firms in an oligopolistic industry to respond to price decreases by initiating efforts to engage in price leadership. B) a particular product to fall out of favor with additional consumers because other consumers have stopped purchasing the product. C) the dominant firm in an oligopolistic industry to react to competing firms' price increases by decreasing the price of its own product. D) price wars to break out in oligopolistic industries in which firms produce products possessing characteristics that make them prone to network effects.
Explain why OPEC cannot always maintain a high price of oil by restricting production?
What will be an ideal response?