Sweet Husks is a perfectly competitive corn farm. Currently, the expected price of an ear of corn is $0.40 and, at its current production level, Sweet Husks has a marginal cost of $.30 per ear. The expected profit from producing an additional ear of corn is ________.

When ranking movies by nominal box office receipts, what important fact is overlooked?

a. More people go to movies now than in the past. b. There are no good substitutes for movies currently. c. Prices, including those for movie tickets, have been rising over time. d. Movies and DVD are complements.

The market demand in a Bertrand duopoly is P = 10 ? 3Q, and the marginal costs are $1. Fixed costs are zero for both firms. Based on this information we can conclude that:

A. P = $7 and firm 1 will sell 7 units of output. B. P = $1 and firms 1 and 2 will each sell 7 units of output. C. P = $1.5 and firms 1 and 2 will each sell 10 units of output. D. P = $1 and firms 1 and 2 will each sell 1.5 units of output.