This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following results in the superstar effect? a. An increase in the minimum wage for ... (Read 72 times)

KWilfred

  • Hero Member
  • *****
  • Posts: 570
on: Jun 30, 2018
Which of the following results in the superstar effect?
 a. An increase in the minimum wage for sports stars
 b. A decrease in the demand for televisions
 c. A technological improvement due to which a baseball game can be broadcast across the world
  d. A rise in the unemployment rate in the service sector of an economy
 e. A decline in the returns to capital in an economy

Question 2

Suppose that ABC Industries, a perfectly competitive firm, currently produces 500 units of imitation ham spread for a total cost of 1,500 . The marginal cost of the 500th unit is 20, and the marginal revenue of the 500th unit is 15 . To maximize profits, Cheapo Industries should:
 a. continue to produce 500 units.
  b. produce more than 500 units but less than 1500 units.
  c. produce less than 500 units.
  d. produce more than 1500 units.
  e. stop producing at 500 units.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

CAPTAINAMERICA

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


KWilfred

  • Hero Member
  • *****
  • Posts: 570
Reply #2 on: Jun 30, 2018
Thank you


CAPTAINAMERICA

  • Sr. Member
  • ****
  • Posts: 325
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Cellular mechanisms that increase protein diversity Cellular mechanisms that increase protein diversity
The greenhouse effect. The greenhouse effect.
Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Effect of stimulus type on graded potentials. Effect of stimulus type on graded potentials.
The Effect of Group Size on Relationships The Effect of Group Size on Relationships
How wide must a narrow slit be if the first diffraction minimum occurs at 12 with laser light ... How wide must a narrow slit be if the first diffraction minimum occurs at 12 with laser light ...
Video: Genetic distance between human groups

For a complete list of videos, visit our video library