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Author Question: Which of the following results in the superstar effect? a. An increase in the minimum wage for ... (Read 62 times)

KWilfred

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on: Jun 30, 2018
Which of the following results in the superstar effect?
 a. An increase in the minimum wage for sports stars
 b. A decrease in the demand for televisions
 c. A technological improvement due to which a baseball game can be broadcast across the world
  d. A rise in the unemployment rate in the service sector of an economy
 e. A decline in the returns to capital in an economy

Question 2

Suppose that ABC Industries, a perfectly competitive firm, currently produces 500 units of imitation ham spread for a total cost of 1,500 . The marginal cost of the 500th unit is 20, and the marginal revenue of the 500th unit is 15 . To maximize profits, Cheapo Industries should:
 a. continue to produce 500 units.
  b. produce more than 500 units but less than 1500 units.
  c. produce less than 500 units.
  d. produce more than 1500 units.
  e. stop producing at 500 units.


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CAPTAINAMERICA

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


KWilfred

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Reply #2 on: Jun 30, 2018
Thank you


CAPTAINAMERICA

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Reply #3 on: Jun 30, 2018
No problemo


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