Many people leave their servers tips in restaurants, even when they are not likely to visit the restaurant again. This is evidence that
A) people would rather pay for good service at an inexpensive restaurant than pay higher prices and receive poor service at an expensive restaurant.
B) people treat others fairly even if doing so makes them worse off financially.
C) there has been an improvement in the service people receive in restaurants over time, partly because the restaurant industry has become more competitive.
D) people enjoy eating at restaurants more than eating at home.
Question 2
Which of the following will not happen as a consequence of a monopolistically competitive firm suffering economic losses in the short run?
A) The firm will exit the industry if it continues to suffer economic losses.
B) In the long run the firm will be able to charge a price that is greater than its average total cost.
C) The firm's demand curve will shift to the right if it stays in business in the long run.
D) The firm will break even if its stays in business in the long run.
Gurung people of Nepal
This image captures a protest of people who want the privilege of “naming” themselves.
Older people who experienced stressful events in their younger years may show personal growth and ...
How do you set yourself apart in a country so rich that of its 4.6 million people, 79,000 are ...
Ads from the public service campaign in the late 1960s and early 1970s that encouraged people to get ...
Tips for Critical Thinking