The marginal cost to the phone company of handling a long distance call is likely to be
A) higher the fewer such calls people make.
B) higher the more the phone company has invested in equipment.
C) substantially less than the price charged for the call.
D) substantially more than the price charged for the call.
C
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What are the key functions of the equilibrium price in a perfectly competitive market?
What will be an ideal response?
Refer to above figure. In the absence of trade, how many Widgets does this country produce?
What will be an ideal response?
Which of the following was the most successful attempt to establish a colony with the longest and most sustainable future, according to Hughes and Cain (2011)?
(a) Jamestown (b) Plymouth Company (c) Massachusetts Bay (d) Maryland
The excise tax on gasoline is based on the ability-to-pay principle of taxation
a. True b. False