ABC Co. produces only gadgets, and XYZ Co. produces both gadgets and widgets. If ABC Co. produces gadgets at the same average total cost as XYZ Co., economies of:
A. scope are not present in XYZ.
B. scope are present in ABC.
C. scale are not present in XYZ.
D. scale are present in ABC.
Answer: A
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Complete the following table and determine the point of profit maximization. ? Quantity TotalRevenue MarginalRevenue TotalCost MarginalCost Profit 100 500 _____ 200 _____ _____ 101 504.95 _____ 204.50 _____ _____ 102 509.85 _____ 209.10 _____ _____ 103 514.70 _____ 213.80 _____ _____ 104 519.50 _____ 218.60 _____ _____ 105 524.25 _____ 223.50 _____ _____ 106 528.95 _____ 228.50 _____ _____ 107 533.60 _____ 233.60 _____ _____ 108 538.20 _____ 238.80 _____ _____ 109 542.75 _____ 244.10 _____ _____ 110 547.25 _____ 249.50 _____ _____
What will be an ideal response?
An increase in the price of good X causes the demand for good Y to shift inward. One can conclude that X and Y are:
a. complements. b. substitutes. c. unrelated goods. d. normal goods. e. exceptions to the law of demand.
What do you observe?
Use marginal analysis (i.e., marginal social benefit (MSB) and marginal social cost (MSC)) to graphically illustrate a Superfund site abatement decision that is solely risk-based relative to one that is based on the efficiency criterion. What do you observe?Use marginal analysis (i.e., marginal social benefit (MSB) and marginal social cost (MSC)) to graphically illustrate a Superfund site abatement decision that is solely risk-based relative to one that is based on the efficiency criterion.
The market supply is the ________ of the individual supplies of all the potential sellers
A) sum B) product C) square of the sum D) square root of the sum