Brittany provides manicures at the only salon in town. Her marginal cost is constant at $5 per client, her fixed cost is $25 per day, and she is able to do 8 manicures per day. On a given day, half of her clients are willing to pay $15 for a manicure; half are willing to pay only $10 . If she charges all of her clients $10, then her maximum daily profit equals
a. $80
b. $15
c. $40
d. $55
e. $50
B
Economics
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At higher nominal rates of interest, the demand for real balances is:
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Economics
What is the total revenue test?
What will be an ideal response?
Economics