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Author Question: Refer to the table above. If the price of a chair decreases to 5 and the rental price of machines is ... (Read 87 times)

Destiiny22

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on: Jun 29, 2018
Refer to the table above. If the price of a chair decreases to 5 and the rental price of machines is 50 per day, up to how many machines should the firm rent?
 
  A) 2
  B) 3
  C) 5
  D) 7

Question 2

The formula used for calculating the total profit of a monopolistic competitor is ________.
 
  A) (Price - Average Total Cost)  Quantity
  B) Price - Marginal Cost
  C) (Price- Average Total Cost) / Quantity
  D) (Price -Average variable cost)


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gcook

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

C

Answer to Question 2

A


Destiiny22

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Reply #2 on: Jun 29, 2018
Thank you


gcook

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Reply #3 on: Jun 29, 2018
No problemo


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