Suppose a perfectly competitive firm faces the following short-run cost and revenue conditions: ATC = $8.00; AVC = $5.00; MC = $8.00; MR = $9.00. The firm should
A) decrease output.
B) increase output.
C) increase price.
D) continue to produce its current output.
B
Economics
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The labor force participation rate shows the percentage of
A) people not working, but who want to work. B) people who are not actively participating in meaningful economic activity. C) new entrants into the labor force. D) non-institutionalized working-age people who are actually working or seeking employment.
Economics
If Levi Strauss & Co were to require every retailer that carried its clothing to charge customers $42 for each pair of jeans, Levi Strauss & Co would be practicing
a. resale price maintenance. b. fixed retail pricing. c. tying. d. cost plus pricing.
Economics