A firm maximizes its profit by selling 2,500 units of output with an average revenue of $6.99 . The firm's marginal cost at 2,500 units of output is __________

Leona and Bernie have committed a crime. If Leona denies committing the crime, Bernie can lower his penalty from 5 years to 2 years by confessing to the crime

If Leona confesses to the crime, Bernie can lower his penalty from 18 years to 7 years by confessing to the crime. Based on this information, we know with certainty that A) Bernie's dominant strategy is to deny the crime. B) Bernie has no dominant strategy. C) Bernie's dominant strategy is to confess to the crime. D) Bernie's dominant strategy is to confess to the crime only if Leona denies committing the crime.

During an economic slump such as the 2008 recession, what pricing strategies could a fast-food chain such as McDonald's use to maintain its sales? Use some of the concepts discussed in this chapter in your answer

What will be an ideal response?