Refer to the table below. What is the profit-maximizing total quantity for Just Juice to produce?
Just Juice produces whole fruit juice that it sells in single bottles. Just Juice is a multi-plant firm with market power. The above table summarizes the total marginal cost of production at various output levels in Just Juice's two plants with the corresponding marginal revenue (dollars per bottle) and market demand (price per bottle).
A) 530
B) 955
C) 850
D) 1,100
B) 955
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If four electronics companies agree to decrease their production of cell phones and raise the price of their cell phones to $400, this is an example of ________.
A) price fixing B) monopolization C) bid rigging D) market division
A public expenditure that has to be approved each year is called:
A. discretionary spending. B. nondiscretionary spending. C. entitlement spending. D. earmarked spending.
A firm's marginal revenue product of labor curve is also
A) its labor demand curve. B) its marginal cost curve. C) its total revenue line. D) its long-run input cost function.
(The following national income data for an economy are in billions of dollars.)
Refer to the above data. The national income in this economy can be estimated by adding items:
A.
1 through 7
B.
8 through 11
C.
2 through 7
D.
1 through 13