Paul's monthly income decreased from $2,500 to $2,300. As a result, he decreased the number of DVDs he rents per month from 5 to 4. Paul's demand for DVD rentals is

If the Slamdunkers can sell 5000 season tickets for $100 and 6000 season tickets only by lowering the price (for all purchasers) to $80, our best estimate of the marginal revenue from sale of the 550th season ticket is

A) $100. B) $90. C) $80. D) -$20.

Suppose labor and capital are variable inputs. The wage rate is $20 per hour, the marginal product of labor is 30 units, the rental rate of capital is $100 per machine hour, and the marginal product of capital is 150 units

If the wage rate declines to $15 per hour, the firm employs more labor and the marginal product of labor declines to 20 units. Assuming the rental rate of capital remains the same, what happens to the amount of capital used by the firm? A) Decreases B) Increases C) No change D) We do not have enough information to answer this question.