20 a Predict whether the $120 price tag on the Utopias is at, above or below marginal cost:

(i) In the short run.

(ii) In the long run.

b Do you think that Samuel Adams Utopias makes the market for beer inefficient? No food, it seems, is safe from being repackaged to look like an upscale product. Samuel Adams’ $120 Utopias, in a ridiculous copper-covered 24-oz. bottle meant to resemble an oldfashioned brew kettle, is barely beer. It’s not carbonated like most beers, but aged in oak barrels like scotch. It has a vintage year, like a Bordeaux, is light, complex and free of any alcohol sting, despite having six times as much alcohol content as a regular can of brew.