Author Question: In the real world A) many firms charge different prices based on consumers' willingness to pay. ... (Read 183 times)

a0266361136

  • Hero Member
  • *****
  • Posts: 538
In the real world
 
  A) many firms charge different prices based on consumers' willingness to pay.
  B) all sellers charge one price set by the government.
  C) profitable sellers will set one price based on the average elasticity of demand of buyers.
  D) all sellers charge one price equal to the marginal cost of production.

Question 2

When the marginal product of labor rises
 
  A) the marginal cost of production will exceed the average total cost.
  B) the marginal cost of production also rises.
  C) the average total cost of production also rises.
  D) the marginal cost of production falls.


mfedorka

  • Sr. Member
  • ****
  • Posts: 324
Answer to Question 1

A

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

For a complete list of videos, visit our video library