Jim's Burgers produces 500 burgers per week. He can sell as many burgers as he can cook for $3 . What is the marginal revenue from selling the 50th burger?
a. $3
b. $150
c. $147
d. It cannot be determined with the information given
a
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Unemployment that emerges during sectoral shifts in the economy is known as ________
A) structural unemployment B) discouraged unemployment C) cyclical unemployment D) frictional unemployment
An incumbent's threat to use limit pricing if a firm enters the market
A) is credible if the firms have identical costs and market demand supports both firms. B) is credible if the firms have different costs and market demand won't support both firms. C) is not credible if the firms have different costs and market demand won't support both firms. D) is cheap talk, because the other firm will enter and the incumbent will still be able to charge monopoly pricing.
Which of the following is accurately predicted by GDP?
a. production b. education c. health d. environmental protection
Which of the following is an example of a fixed cost for a fishing company?
a. The cost of hiring a fishing crew. b. The monthly loan payment on the boat. c. The supply of nets, hooks, and fishing lines. d. The fuel costs of running the boat.