The market demand for MP3 players is p = 50 - 0.5Q, and the marginal cost for Nick to obtain and sell an MP3 player is $12. If he receives 60% of the MP3 sales revenue, then
A) Nick will sell 38 MP3 players.
B) Nick will sell 50 MP3 players.
C) Nick will receive $270 as profit.
D) total profit is $342.
C
Economics
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The equilibrium wage rate is determined by
A. Market labor supply and market labor demand. B. Labor unions. C. Firms but not individuals. D. Individuals but not firms.
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