Java Joe sells 200 cups of coffee each day in a perfectly competitive market at the market price of $2.00 per cup. If Java Joe independently decreased its price per cup to $1.50,
a. its sales would rise to 250 cups
b. its revenue would decrease
c. its revenue would rise
d. its total revenue would equal $200
e. the market price will fall to $0.75 as other coffee sellers match the price cut
B
Economics
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Refer to Table 9-6. What is the required reserve ratio?
A) 5% B) 10% C) 20% D) 25%
Economics
If a consumer's budget line for food (F) and shelter (S) is represented as F = 250 - 5S, we know that
A) the consumer's income is 250. B) the price of shelter is 5. C) the price of shelter is 5 times the price of food. D) All of the above.
Economics