Figure 11-1
The Red Cross is virtually the only operator of blood banks in the United States. In Figure 11-1 are the demand and cost curves facing the Red Cross blood bank. If the Red Cross were to set price and quantity at the level that it would obtain in the long run in a competitive industry, how much blood would it sell?
A. OA
B. OB
C. OD
D. OC
Answer: D
Economics
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Refer to Table 9-3. What is the value of the bank's net worth?
A) $200 million B) $2,000 million C) $2,800 million D) $3,000 million
Economics
The long-run equilibrium of monopolistic competition is characterized by
A) P = MC = ATC. B) P = MC > ATC. C) P = MR = MC. D) P = ATC > MC.
Economics