Assume price exceeds average variable cost over the relevant range of demand. If a monopolistically competitive firm is producing at an output where marginal revenue is $23 and marginal cost is $19, then to maximize profits the firm should

Which of the following is an example of comparative statics?

A) The estimation of the supply of a good when the wage rate of labor changes from $30 to $10 per hour B) The estimation of the ideal number of workers a firm should hire when wage rate is $20 per hour C) The estimation of the quantity demanded of a good when its price is $5 D) The estimation of the demand for a particular good when consumer income is $10

The ability to share work and share risk is an advantage for

A) partnerships. B) sole proprietorships and partnerships. C) sole proprietorships. D) sole proprietorships and corporations