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Author Question: A firm built an inventory of 16-bit chips for 50,000 last year. However, the introduction of 32-bit ... (Read 50 times)

melina_rosy

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on: Jul 1, 2018
A firm built an inventory of 16-bit chips for 50,000 last year. However, the introduction of 32-bit chips lowers the market price for 16-bit chips and the inventory can only be sold for 40,000 now. What is the sunk cost?
 
  A) 50,000
  B) 40,000
  C) 10,000
  D) 90,000

Question 2

Which of the following markets comes closes to the model of perfect competition?
 
  A) automobile industry
  B) information technology industry
  C) aerospace industry
  D) agriculture


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TheNamesImani

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


melina_rosy

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

laurnthompson

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Reply 3 on: Yesterday
Wow, this really help

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