This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Dominic sells pizza slices for $5 on the Santa Monica Pier. He currently sells 500 slices of pizza ... (Read 509 times)

hbsimmons88

  • Hero Member
  • *****
  • Posts: 526
on: Apr 19, 2019

Question 1

The ________ part of a perfectly competitive firm's marginal cost curve is the firm's short-run supply curve.


◦ rising
◦ falling
◦ horizontal
◦ backward-bending

Question 2

Dominic sells pizza slices for $5 on the Santa Monica Pier. He currently sells 500 slices of pizza per day.This is a perfectly competitive business, and Dominic faces a perfectly price elastic demand curve. If he wants to try to increase daily revenues to $3,000, he should


◦ raise the price of his pizza to $6 per slice and continue to sell 500 slices per day.
◦ lower the price of his pizza to $4 per slice and try to sell 750 slices per day.
◦ keep the price at $5 per slice and produce 600 slices per day.
◦ do nothing since he can do nothing to increase revenue.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by hbsimmons88 on Apr 19, 2019

wfdfwc23

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 45% of students answer this correctly


Jason Watson

  • Newbie
  • *
  • Posts: 5
Reply #2 on: Jun 25, 2021
thankyou


« previous next »
 

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Image of a blue whale's tail fluke with the Santa Barbara Channel Islands in the background, Au Image of a blue whale's tail fluke with the Santa Barbara Channel Islands in the background, Au
Santa Costanza, Rome. Santa Costanza, Rome.
Mixed dishes such as hamburgers and pizza are a major source of solid fats in the diets of Americans Mixed dishes such as hamburgers and pizza are a major source of solid fats in the diets of Americans
A slice of cheese pizza has a caloric content of 150 Cal. If this energy could b A slice of cheese pizza has a caloric content of 150 Cal. If this energy could b
Mario Lanza sings Mario Lanza sings "Santa Lucia"
Video: Bulk flow - Factors that influence bulk flow

For a complete list of videos, visit our video library