Jessica's marginal cost for producing a pitcher of lemonade is $0.25. Therefore, $0.25 is her:
A. reservation price.
B. producers surplus.
C. marginal revenue.
D. equilibrium price.
Answer: A
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The following data give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time. Turning PointDateReal GDP (1996 $ billions)(A)Feb. 19612352.9(B)Dec. 19693571.4(C)Nov. 19703566.5(D)Nov. 19734151.1(E)Mar. 19754010.0 Which of the following periods was an expansion?
A. November 1970 through November 1973 B. December 1969 through November 1973 C. November 1970 through March 1975 D. December 1969 through November 1970
Answer the following questions true (T) or false (F)
1. Explicit costs are nonmonetary costs. 2. An increase in liabilities will reduce a firm's net worth. 3. A firm's net income is also its accounting profit.
Leveraging investments based on irrational expectations:
A. can lead to gradually deflating financial bubbles. B. is cited as a root cause of financial crises. C. explains the success of companies like Apple. D. All of these statements are true.
A new technology that increases labor productivity will shift the
a. demand curve for labor to the left b. MLC curve to the left c. MPP curve downward d. demand curve for labor to the right e. demand for the good to the right