If it costs $8 to produce a certain product and the product sells for $9, then
a. the markup is approximately 11.1 percent
b. the market for this product must be monopolistic
c. the markup is $1
d. firms in this industry should shut down to minimize their losses
e. the revenue gained from the last unit produced is $1
C
You might also like to view...
The above table gives the initial balance sheet for Mega Bank. Barney comes into the bank and deposits $50 of currency into his checking account. The desired reserve ratio is 3 percent
After Barney's deposit, but before any other actions occur, MegaBank will have excess reserves of A) $15.00. B) $33.00. C) $48.50. D) $50.00.
Assume the marginal propensity to consume (MPC) is 0.75 and the government increases taxes by $250 billion. The aggregate demand curve will shift to the:
a. left by $1,000 billion. b. right by $1,000 billion. c. left by $750 billion. d. right by $750 billion.