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Author Question: In the above figure, by increasing its output from Q2 to Q3, the firm A) reduces its marginal ... (Read 47 times)

luminitza

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on: Jun 29, 2018
In the above figure, by increasing its output from Q2 to Q3, the firm
 
  A) reduces its marginal revenue.
  B) increases its marginal revenue.
  C) decreases its profit.
  D) increases its profit.

Question 2

Ticket scalpers at the NCAA basketball tournament last year charged prices high above the printed ticket price. This observation is evidence of
 
  A) a surplus at printed ticket prices.
  B) a shortage at printed ticket prices.
  C) the tournament not being televised.
  D) the tournament getting too much television exposure.


mfedorka

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

C

Answer to Question 2

B


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