The marginal cost and total revenue of a firm are $5 and $275, respectively. The reservation value of the seller in this case is ________
A) $0
B) $5
C) $55
D) $275
B
Economics
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In the dominant firm model, the smaller fringe firms behave like:
A) competitive firms. B) Cournot firms. C) Stackelberg firms. D) Bertrand firms. E) monopolists.
Economics
The consumer's optimum is where
a. MUx/MUy = Py/Px. b. MUx/Py = MUy/Px. c. MUx/MUy = Px/Py. d. None of the above is correct.
Economics