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

Author Question: Dominic sells pizza slices for $5 on the Santa Monica Pier. He currently sells 500 slices of pizza ... (Read 540 times)

hbsimmons88

  • Hero Member
  • *****
  • Posts: 526
on: Apr 19, 2019

Question 1

The ________ part of a perfectly competitive firm's marginal cost curve is the firm's short-run supply curve.


◦ rising
◦ falling
◦ horizontal
◦ backward-bending

Question 2

Dominic sells pizza slices for $5 on the Santa Monica Pier. He currently sells 500 slices of pizza per day.This is a perfectly competitive business, and Dominic faces a perfectly price elastic demand curve. If he wants to try to increase daily revenues to $3,000, he should


◦ raise the price of his pizza to $6 per slice and continue to sell 500 slices per day.
◦ lower the price of his pizza to $4 per slice and try to sell 750 slices per day.
◦ keep the price at $5 per slice and produce 600 slices per day.
◦ do nothing since he can do nothing to increase revenue.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by hbsimmons88 on Apr 19, 2019

wfdfwc23

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 45% of students answer this correctly


Jason Watson

  • Newbie
  • *
  • Posts: 5
Reply #2 on: Jun 25, 2021
thankyou


« previous next »
 

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Image of a blue whale's tail fluke with the Santa Barbara Channel Islands in the background, Au Image of a blue whale's tail fluke with the Santa Barbara Channel Islands in the background, Au
Blue whale skeleton, outside the Long Marine Laboratory at the University of California, Santa Cruz Blue whale skeleton, outside the Long Marine Laboratory at the University of California, Santa Cruz
A slice of cheese pizza has a caloric content of 150 Cal. If this energy could b A slice of cheese pizza has a caloric content of 150 Cal. If this energy could b
Mario Lanza sings Mario Lanza sings "Santa Lucia"
Video: Summation - defined, spatial, temporal & AP generation or not

For a complete list of videos, visit our video library