Which firm in Figure 26.5 is using marginal cost pricing?
A. Firm C only.
B. Firms B and D only.
C. Firm B only.
D. All of the firms are using marginal cost pricing.
Answer: C
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Your economics professor offers 10 points extra credit if you attend a review session before your next exam. This extra credit is an example of
A) an increase in marginal cost to attend the review session. B) a decrease in marginal benefit to attend the review session. C) a rational choice. D) an incentive to attend the review session. E) None of the above answers is correct.
People consume more soup as temperatures falls. So, as cold weather approaches,
A) the demand for soup increases. B) people move farther beyond their demand curves. C) the quantity of soup demanded increases. D) people move closer to their demand curve for sou
What factors shift the demand for labor curve? Briefly describe the effect of each
What will be an ideal response?
Constant returns to scale exist over the range of output for which the long-run average cost is:
a. neither rising or falling. b. falling. c. rising. d. none of these.