The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm increases its output from 2 pounds of cookies to 3 pounds, the marginal revenue is ________ per pound of cookies

Beth is participating in an open outcry Dutch auction. Bidding starts at $500, and her maximum williness to pay is $400. The total number of bidders participating in the auction is 4

Her optimal bid strategy is to buy when the price reaches ________. A) $320 B) $300 C) $375 D) $125

Many spouses complain that their partners put less effort into their relationship after getting married. This is an example of

a. Moral hazard b. Adverse selection c. Terrible husbands d. None of the above