The Sweet Success Bakery sells 500 cakes at a price of $10 per cake. Its total economic costs for producing 500 cakes are $500. The Sweet Success Bakery's economic profits are
A. $100.
B. $3,500.
C. $4,500.
D. indeterminate from this information.
Answer: C
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A. bring about a less efficient allocation of resources. B. bring about a more efficient allocation of resources. C. not bring about a reallocation of resources unless firms are subsidized. D. not bring about a reallocation of resources unless there is government regulation.
In a sequential game, one firm will act first and then other firms will respond
Indicate whether the statement is true or false
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Answer the following statement true (T) or false (F)
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