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Author Question: Many people leave their servers tips in restaurants, even when they are not likely to visit the ... (Read 77 times)

mspears3

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on: Jun 29, 2018
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.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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234sdffa

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

B

Answer to Question 2

B


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