Refer to Scenario 13.1 below to answer the question(s) that follow. SCENARIO 13.1: The government of Catalina Island is currently inviting investors to bid for the exclusive right to provide cable television service to its residents. The market demand for this service is P = 55 - 0.01Q, where Q is the number of households that would subscribe to the cable service and P is the monthly fee charged to the subscribers. The associated marginal revenue curve is MR = 55 - 0.02Q. Universal Entertainment is interested in bidding for the right to provide cable service on Catalina Island. It has a constant average and marginal cost of $15 for providing cable service to each household.Refer to Scenario 13.1. At what level of output (number of households) is Universal Entertainment's total
revenue maximized?
A. 2,500
B. 2,750
C. 5,000
D. Indeterminate from the given information
Answer: B
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Refer to the above table. Suppose the U.S. government (but not Europe) offers a $10 million subsidy?
What will be an ideal response?
In comparison to the U.S., Germany has a relatively low percentage of union membership
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of cyclical unemployment?
A. A worker stays at home to care for children. B. A student goes to school instead of working. C. An autoworker is laid off when auto sales fall due to a recession. D. A fast-food worker quits that job to find a better-paying job.
The impact of a strike is limited to the ability of the union to
A) prevent replacement workers from continuing their work. B) lower its wage demands of non-union members. C) control the pension fund. D) none of the above.