Use the information provided in Exhibit 11-4. If a person’s taxable income is $110,000, how much does he pay in taxes?

"Value pricing" stresses the importance of product differentiation

Indicate whether the statement is true or false

Sheila sells corn in a perfectly competitive market. This month Sheila receives a lower price for a bushel of corn than she did last month. This might have happened because:

A. the market demand increased for corn. B. the market demand decreased for corn. C. firms exited the market. D. Sheila's costs have increased.