If price equals 0, then consumer surplus
a. is 0
b. is maximized
c. is price times quantity
d. is equal to marginal utility
e. cannot be determined
B
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Randomization is the assignment of subjects by ________ to a ________
A) chance, rather than by choice; treatment group or into a test group. B) choice, rather than by chance; treatment group or into a test group. C) choice, rather than by chance; treatment group or into a control group. D) chance, rather than by choice; treatment group or into a control group.
Refer to Figure 13-10. to answer the following questions
a. What is the profit-maximizing output level? b. What is the profit-maximizing price? c. At the profit-maximizing output level, how much profit will be realized? d. Does this graph most likely represent the long run or the short run? Why?