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

Author Question: If supply is price-inelastic and demand is price-elastic, then the firm can earn positive profits by ... (Read 96 times)

geoffrey

  • Hero Member
  • *****
  • Posts: 880
on: Jun 30, 2018
If supply is price-inelastic and demand is price-elastic, then the firm can earn positive profits by increasing the price.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Wanda Rumble promotes boxing matches. She makes 6,500 per fight. Which cost is most relevant to a decision as to whether to promote one more fight?
 a. the total cost of promoting all boxing matches during the year
  b. the marginal cost of promoting one additional boxing match
  c. the average fixed cost of promoting a boxing match
 d. the average total cost of promoting a boxing match


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

spencer.martell

  • Sr. Member
  • ****
  • Posts: 342
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

b


geoffrey

  • Member
  • Posts: 880
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

apple

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

The frontal sinus, an airfilled space just behind the brow, is a unique size and shape in each of us The frontal sinus, an airfilled space just behind the brow, is a unique size and shape in each of us
An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
Positive and negative selection during T-cell development. Positive and negative selection during T-cell development.
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Blood and Nerve Supply of Bone Blood and Nerve Supply of Bone
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
Video: Five phases of cardiac cycle & Atrial contraction

For a complete list of videos, visit our video library