An increase in marginal cost that remains within the gap of the marginal revenue curve of a kinked demand oligopolist will:
a. keep price and output the same.
b. raise price and decrease output.
c. lower price and increase output.
d. raise price and raise output.
e. lower price and lower output.
a
Economics
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The table above shows the total product schedule for Rick's Lawn Service, a yard care company. When does the average product of labor equal the marginal product of labor?
A) between the 4th and 5th workers B) at the 5th worker C) between the 5th and 6th workers D) between the 6th and 7th workers E) between 0 workers and the 3rd worker
Economics
The marginal rate of transformation of y for x represents
A) the slope of the budget constraint. B) the rate at which the consumer must give up y to get one more x. C) -Px/Py. D) All of the above.
Economics