According to the table shown, what is the market price?
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.
A. $500
B. $150
C. $50
D. $27.50
C. $50
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A relationship between two variables in which one variable increases at the same time that the other increases is called
A) nonlinear. B) constant. C) inverse. D) direct.
Which of the following is an example where price discrimination occurs?
a. quantity discounts b. Disney World c. theatres in New York City d. all of the above
In the article "Walmart Shutters Quebec Store as Union Closes In," the company argued all of the following except
A. It is not profitable to hire 30 additional workers at an already unprofitable store. B. Unions demanded higher labor costs that would make the store unprofitable. C. Unions impose inefficient work rules. D. The store would be the only unionized Walmart store.
One defining characteristic of pure monopoly is that the ________.
A. monopoly produces a product with no close substitutes B. monopoly uses advertising C. entry into the industry is relatively easy, but exit is difficult D. monopoly is a price taker