An oligopolist has a marginal revenue curve that jumps down at 500 units of output. What kind of oligopoly does the firm most likely belong to?

Refer to Table 1-6. Using marginal analysis, how many hours should Ivan extend his hours of operations?

A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours

Suppose a plaintiff hires a lawyer to represent her in a court case. The lawyer will receive a share of the settlement if the plaintiff wins. Under this contract,

A) production efficiency cannot be achieved. B) the client bears all of the risk. C) the lawyer bears all of the risk. D) the risk is shared.