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Author Question: The figure above shows the demand and marginal revenue curves facing Sue's Surfboards, the sole ... (Read 79 times)

biggirl4568

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on: Jun 29, 2018
The figure above shows the demand and marginal revenue curves facing Sue's Surfboards, the sole renter of surfboards on Big Wave Island. If Sue is renting 25 surfboards an hour so that the marginal revenue is negative, then Sue's Surfboards
 
  A) can increase its profit by increasing the number of rentals.
  B) must face an inelastic demand for surfboard rentals.
  C) must face a unit elastic demand for surfboard rentals.
  D) must face an elastic demand for surfboard rentals.

Question 2

The above table shows the total product schedule for the campus book store. If employees are paid 6 per hour and there are no other variable costs, then what is the marginal cost (MC) per book of increasing book sales from 83 to 87 books per hour?
 
  A) 6.00
  B) 4.00
  C) 2.07
  D) 1.50


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ansleighelindsey

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

B

Answer to Question 2

D


biggirl4568

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Reply 2 on: Jun 29, 2018
Excellent

billybob123

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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