Author Question: Each of the following would cause an increase in the supply of baseballs EXCEPT A) an improvement ... (Read 36 times)

kfurse · **on:** Jun 29, 2018

Each of the following would cause an increase in the supply of baseballs EXCEPT

A) an improvement in technology.
B) a decrease in the cost of labor used to produce baseballs.
C) an expectation that the price of baseballs will rise in the future.
D) an increase in the number of baseball producers.

Question 2

The above figure shows the situations of a monopolistic competitor in the short run. To maximize profits, the firm should produce

A) 10,000 units.
B) 12,000 units.
C) 13,000 unit.
D) somewhere between 10,000 and 12,000 units.