Your professor loves her work, teaching economics. She has been offered other positions in the corporate world that would increase her income by 25 percent, but she has decided to continue working as a professor. Her decision would not change unless the marginal
a. cost of teaching increased.
b. benefit of teaching increased.
c. cost of a corporate job increased.
d. benefit of a corporate job decreased.
a
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If the price of potato chips increases, other things constant, demand for potato-chip dip will
a. not change; only quantity demanded will change b. increase because the goods are substitutes c. decrease because the goods are substitutes d. decrease because the goods are complements e. increase because the goods are complements
Answer the next question based on the following demand and cost data for a specific firm.Demand DataCost Data(1) Price(2) Price(3) QuantityTotal OutputTotal Cost$50$3522$4545303355402544703520559030156611525107714520588180In the long run, the number of firms in this monopolistic competitive industry will most likely
A. stay the same. B. decrease. C. increase. D. cannot be determined from the given data.