Book publishers often use a cost-plus pricing strategy. One reason for this is
A) bookstores, not publishers, ultimately determine how many books will be produced.
B) much of the cost of publishing textbooks is difficult to assign to any particular book.
C) publishers do not want to incur the expense of determining the profit-maximizing strategy. They prefer cost-plus pricing because of its lower cost.
D) most publishers do not hire economists who can determine the number of books they must sell to equate marginal cost and marginal revenue.
B
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The table above shows a total product schedule. Suppose that labor costs $20 per worker and fixed costs are $60. The average total cost of producing 80 units equals ________ per unit
A) $0.75 B) $1.00 C) $1.75 D) $60 E) $0.25
The most efficient point on the production possibilities curve is the midpoint on the curve
a. True b. False Indicate whether the statement is true or false