If the demand elasticity for a product is -2, and a profit-maximizing firm sells the product for $10, its marginal cost must be
A) $5.
B) $10.
C) $15.
D) $8.
A
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There are two types of open market operations: ________ open market operations are intended to change the level of reserves and the monetary base, and ________ open market operations are intended to offset movements in other factors that affect the
monetary base. A) defensive; dynamic B) defensive; static C) dynamic; defensive D) dynamic; static
During the short-run period of the production process, a firm will be
a. unable to vary any of its factors of production. b. able to vary only some of its factors of production. c. able to vary all of its factors of production. d. able to vary the size of its plant.
What is the difference between inferior goods and normal goods
What will be an ideal response?
Public television periodically runs pledge drives to raise money. Only a small percentage of the people who benefit from public television are willing to pay. What do economists call the people who do not pay?
A. Adverse selectors B. Free riders C. Thieves D. The excludable