Buyers consider gasoline and SUV to be complements. If gasoline price increases, what would you expect to occur in the SUV market?
Which of the following is an explicit cost to a firm? A country that has an abundance of cheap labor will tend to
If Sam’ s, a local watering hole, increased the price of a pint of Guinness by 20 %, it estimates the number of MBA students purchasing Guinness would decrease by 4 %. Based on this data
Use the information about marginal cost( MC) and marginal revenue( MR) that is presented in the table below to determine the profit maximizing level of output.
A baseketball company is considerign purchasing a new machine that doubles capacity from producing 100 balls to 200 balls per day. The machine will occupy 1,000 square feet of unused space on the facotry floor. Which costs are irrelevant in this decision to purchase a machine?
Regression analysis was used to estimate the following linear trend equation:
St = 10.5 + 0.25 t
Use this equation to forecast the value of the dependent variable( St) in time period of 10
In a freeenterprise system, profit is socially desirable because it
If you are trying to determine the value of a firm, which of the following factors would be relevant?
A firm that has total fixed costs of $ 40,000 sells its output for $ 250 per unit and has an average variable cost of $ 150. If the firm ' s cost and revenue curves are linear, how much output must the firm produce to break even?