Author Question: The cost-plus-markup theory of price setting A) explains why firms can't raise their prices until ... (Read 64 times)

khang · **on:** Jun 29, 2018

The cost-plus-markup theory of price setting

A) explains why firms can't raise their prices until their costs rise.
B) explains why percentage markups vary.
C) is consistent with what many sellers say about how they set their prices.
D) takes demand into account in explaining relative prices.

Question 2

The Miami Dolphins play football in Joe Robbie Stadium which holds 76,500 seats. In 2009, attendance averaged about 70,000 fans per game. This means that the quantity supplied of seats is

A) 76,500.
B) 70,000.
C) 6,500.
D) 126,500.