Blog

At Flower Bakery, Camden notices that the equilibrium price of poppyseed muffins has decreased and the equilibrium quantity has decreased. Which of the following could be responsible for this pattern?

In an indirect price discrimination mechanism, a firm _______.

Suppose a firm’s total cost is given by TC = 210+10Q+3Q2, and its marginal cost is given by MC = 10+6Q. It operates in a perfectly competitive market where the price per unit of output is $100. What value of Q maximizes the firm’s profits?

Suppose a perfectly competitive industry has 200 firms, and the short-run supply curve for each firm is given by Q = 4P. What is the short-run industry supply curve?

Use figure 10.7 to answer the following question: Figure 10.7 Suppose a firm has two types of customers but cannot tell which type of buyer the customer is before a purchase is made. If the firm wanted to use quantity discounting, it should charge _____ per unit for any quantity purchased or _____.

Suppose that a monopolist experiences an increase in its marginal cost. Then, we expect that the equilibrium price ____ and the equilibrium quantity ____.

In a perfectly competitive industry, the equilibrium price is $10, and the minimum average total cost of the industry’s firms is $20. If this is a constant-cost industry, we can expect that in the long run, firms will ___ the market, shifting the industry’s short-run supply curve ___.

An infant who had been diagnosed with myelomeningocele prior to birth is born via C-section, admitted to the NICU, placed on his abdomen and a sterile, saline-soaked dressing applied.  Which of the following nursing interventions would the nurse expect to implement?  [expected1] or [unexpected2]?

The purchase price for Stata version 12 (statistical software used by many economists) is $895. For users of Stata version 11, the price to upgrade to version 12 is $395. Which of the following statements is TRUE?

A firm’s demand curve is given by Q = 50–P. What is the firm’s corresponding marginal revenue curve?