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Author Question: Every firm that has the ability to affect the price of the good or service it sells will A) earn ... (Read 145 times)

rayancarla1

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on: Jun 29, 2018
Every firm that has the ability to affect the price of the good or service it sells will
 
  A) earn a short-run profit but break even in the long run.
  B) shut down in the short run.
  C) have a marginal revenue curve that lies below its demand curve.
  D) have a perfectly elastic demand curve.

Question 2

Refer to Table 10-3. The table above shows Lee's marginal utility per dollar from consuming ice cream cones and cans of Lime Fizz Soda. The price of an ice cream cone is 2 and the price of Lime Fizz Soda is 1.
 
  Use this information to select the correct statement.
  A) If Lee has an unlimited budget he will maximize his utility by buying only Lime Fizz Soda.
  B) We cannot determine how many ice cream cones and cans of Lime Fizz Soda Lee will consume without knowing what his income is.
  C) To maximize his utility Lee should consume 1 ice cream cone and 5 cans of Lime Fizz Soda.
  D) We cannot determine how many ice cream cones and cans of Lime Fizz Soda will maximize Lee's utility because we are given only the marginal utility per dollar values. We also need to know the marginal utility for each quantity.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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karmakat49

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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rayancarla1

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Reply 2 on: Jun 29, 2018
Gracias!

robbielu01

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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