All of the following are examples of fixed costs, except
a. Tax accountant fees
b. Package designing fees
c. Insurance
d. Shipping costs
d
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Suppose the price of soda is $2 each and the price of a pizza slice is $4 each. Jean maximizes utility and buys only sodas and slices of pizza. If the price of a soda increases to $3 each, Jean's marginal utility per soda
A) will increase and she'll buy more soda. B) will decrease and she'll buy fewer sodas. C) will decrease and she'll buy more pizza. D) Both B and C are correct.
Suppose the equilibrium price in a perfectly competitive industry is $15 and a firm in the industry charges $21. Which of the following will happen?
A) The firm's revenue will increase. B) The firm will sell more output than its competitors. C) The firm's profits will increase. D) The firm will not sell any output.