The market price in a perfectly competitive industry is $13 . A firm is considering increasing its output from 30 units to 40 units. The marginal revenue of each of these extra units equals

Some of the factors that can shift the short-run aggregate supply curve can also cause a shift in the long-run aggregate supply curve

Indicate whether the statement is true or false

If a monopoly is price discriminating between two groups, A and B, based on observable customer characteristics, there is a difference in the marginal cost of selling to the two groups, and the elasticity of demand for group A is -1.5 while the elasticity of demand for group B is -2.1, which of the following is true?

A. The markup and price for group A customers will be higher than for group B customers. B. The markup and price for group B customers will be higher than for group A customers. C. The markup for group A customers will be higher than for group B customers, but there is not enough information to determine which price will be higher. D. The price for group A customers will be higher than for group B customers, but there is not enough information to determine which markup will be higher.