Jim's Burgers produces 600 burgers per week. Each burger sells for $3 . Goody Candy orders 500 burgers for its upcoming office party from Jim's Burgers. Jim decided to accept the order for $1250 lump sum. What would be the marginal revenue per burger for this order?

If a perfectly competitive firm in the short run is producing where P = ATC = MC, this firm is

A) incurring losses. B) earning economic profits. C) obliged to shut down. D) on the downward-sloping portion of its demand curve. E) at its profit-maximizing output level.

Government policy can potentially raise economic well-being

a. in all markets for goods and services. b. in economic models, but not in reality. c. when a good does not have a price attached to it. d. never.