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Author Question: Refer to Table 13-4. Based on the data in the table, which of the following statements is true? ... (Read 167 times)

tsand2

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on: Jun 29, 2018
Refer to Table 13-4. Based on the data in the table, which of the following statements is true?
 
  A) The table summarizes Victoria's short-run, rather than long-run, market for plastic vials.
  B) Victoria should advertise more in order to increase the demand for plastic vials.
  C) Victoria could be either a monopolistically competitive or a perfectly competitive firm.
  D) Victoria should shut down temporarily.

Question 2

If we have information about workers' marginal products, then total and average product can be found by
 
  A) summing the marginal values to find the total and multiplying it times the number of workers to get the average.
  B) dividing marginal costs by the number of workers.
  C) summing the marginal values to find the total and dividing it by the number of workers to get the average.
  D) multiplying the average marginal product times the number of workers.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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Missbam101

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


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