Once a firm has determined the quantity of output it wishes to sell, the maximum price it can charge for each unit is determined by:

A. the demand curve facing the firm.
B. the average cost of making the product.
C. the marginal cost of making the product.
D. the firm's marginal revenue curve.

Answer: A

Economics

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Marginal cost is the minimum price that producers must receive to induce them to produce another unit of a good or service

Indicate whether the statement is true or false

Economics

Trisha's Fashion Boutique sells earrings and pendants. Trisha has two types of customers. Their willingness-to-pay for earrings and pendants are given in the table below

If Trisha bundles the earrings and pendants together, could she increase revenue? Earrings Pendant Type I 100 65 Type II 90 75

Economics