Author Question: Based on the above figure, up to which level of output will Ike's Ice Cream Kitchen have increasing ... (Read 37 times)

ahriuashd · **on:** Jun 29, 2018

Based on the above figure, up to which level of output will Ike's Ice Cream Kitchen have increasing marginal returns?

A) only at 0 gallons
B) up to 10 gallons
C) up to 40 gallons
D) up to 60 gallons

Question 2

The above figure shows the demand and cost curves for a monopolistically competitive firm in the long run. The firm has excess capacity of

A) 4 units.
B) 8 units.
C) 16 units.
D) 10.