Refer to the table above. If the firm is a monopolistic competitor, up to what output will the firm produce?

Refer to Table 3-4. The table above shows the demand schedules for cashews of two individuals (Jordy and Amy) and the rest of the market. If the price of cashews rises from $4 to $6, the market quantity demanded would

A) decrease by 33 lbs. B) increase by 33 lbs. C) increase by 39 lbs. D) decrease by 39 lbs.

The law of diminishing returns applies to which of the following segments of the marginal product of labor curve?

a. The entire curve. b. The downward-sloping segment only. c. The upward sloping segment only. d. The point where labor input is zero.