A chief reason firms give employees bonuses based on the firm's profit is to cope with

Suppose a perfectly competitive increasing-cost industry is in long-run equilibrium when market demand suddenly increases. What happens to the typical firm in the long run?

a. It experiences no change from the original equilibrium b. It experiences a higher average total cost and equilibrium price c. It experiences a lower average total cost and equilibrium price d. It experiences the same equilibrium price but a greater average total cost e. It experiences the same equilibrium price but a lower average total cost

Suppose Sam's Shoe Co. makes only one kind of shoe, which sells for $50 a pair. If they sold 500,000 pairs of shoes, then their total revenue would be:

A. $25,000,000. B. $10,000. C. $2,500,000. D. Cannot answer this question without knowing the cost per pair.