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

Author Question: The figure above shows the demand and marginal revenue curves facing Sue's Surfboards, the sole ... (Read 75 times)

biggirl4568

  • Hero Member
  • *****
  • Posts: 551
on: Jun 29, 2018
The figure above shows the demand and marginal revenue curves facing Sue's Surfboards, the sole renter of surfboards on Big Wave Island. If Sue is renting 25 surfboards an hour so that the marginal revenue is negative, then Sue's Surfboards
 
  A) can increase its profit by increasing the number of rentals.
  B) must face an inelastic demand for surfboard rentals.
  C) must face a unit elastic demand for surfboard rentals.
  D) must face an elastic demand for surfboard rentals.

Question 2

The above table shows the total product schedule for the campus book store. If employees are paid 6 per hour and there are no other variable costs, then what is the marginal cost (MC) per book of increasing book sales from 83 to 87 books per hour?
 
  A) 6.00
  B) 4.00
  C) 2.07
  D) 1.50


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ansleighelindsey

  • Sr. Member
  • ****
  • Posts: 364
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


biggirl4568

  • Member
  • Posts: 551
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Zebsrer

  • Member
  • Posts: 284
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

The north-facing slope at this site supports a Mediterranean woodland, while the vegetation on the s The north-facing slope at this site supports a Mediterranean woodland, while the vegetation on the s
The uterus. Cutaway view shows regions of the uterus and cervix and its relationship to the uterine The uterus. Cutaway view shows regions of the uterus and cervix and its relationship to the uterine
Mechanical ventilation. The photograph shows a patient receiving breathing assistance by the use of Mechanical ventilation. The photograph shows a patient receiving breathing assistance by the use of
A peroxidation reaction involving a fatty acid is depicted in the figure below. A peroxidation reaction involving a fatty acid is depicted in the figure below.
Standing at the side of the table facing the head, mobilize the scapula by pressing along medial ... Standing at the side of the table facing the head, mobilize the scapula by pressing along medial ...
Graph shows the living arrangements of Canadian seniors Graph shows the living arrangements of Canadian seniors
Video: Structure of a Ribosome

For a complete list of videos, visit our video library