Firms maximize profits when marginal revenue equals marginal cost
Indicate whether the statement is true or false
True
Economics
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If the demand for digital cameras increases when consumers' incomes rise, then digital cameras are
A) a substitute for camcorders. B) a complement to camcorders. C) an inferior good. D) a normal good. E) made using advanced technology.
Economics
Refer to Table 3-3. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. At a price of $6, the quantity demanded in the market would be
A) 36 lbs. B) 68 lbs. C) 89 lbs. D) 123 lbs.
Economics