Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 20, 2024

If in a market the last unit of output was sold at a price higher than marginal cost _____. Group of answer choices the unit

If in a market the last unit of output was sold at a price higher than marginal cost _____.

Group of answer choices

the unit increased total profit

consumers are better off if less of the product is sold

producer is better off producing more

total surplus is not maximized

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations of Business

Authors: William M. Pride, Robert J. Hughes, Jack R. Kapoor

6th edition

1337386928, 9781337670975 , 978-1337386920

More Books

Students also viewed these Economics questions

Question

★★★★★

The following current asset appears on the balance sheet in Kraft Foods, Inc.'s 2010 annual report (amounts in millions of dollars): 12/31/10 12/31/09 Receivables (net of allowances of $246 in 2010...

Answered: 1 week ago

Question

★★★★★

The Research and Development Division of the Progressive Company has been developing four possible new product lines. Management must now make a decision as to which of these four products actually...

Answered: 1 week ago

Question

★★★★★

6.32 Tennis Anyone? A stringer of tennis rack- ets has found that the actual string tension achieved for any individual racket stringing will vary as much as 3 kilograms per square centimetre (km/...

Answered: 1 week ago

Question

★★★★★

What are the major factors considered in determining what depreciation method to use?

Answered: 1 week ago

Question

★★★★★

You are given an annual payment (PMT), an interest rate (I), and a period of time (n). For an ordinary annuity you find the value to be more than for an annuity due for the same data. You would...

Answered: 1 week ago

Question

★★★★★

A 10-year annuity immediate has a first payment of X. The payment increases by 100 each year for 5 times and stays level afterwards. Under an effective annual rate of 6.5%, the present value of this...

Answered: 1 week ago

Question

★★★★★

Everything is about Apple. Identify and describe your organization's main approach for staffing the organization. Identify the CEO and develop a biography of the CEO discussing tenure in the...

Answered: 1 week ago

Question

★★★★★

provide cost estimate of the healthcare information system as received from vendor interactions. A breakdown of the costs (as much as possible) is provided. Estimate is in alignment with the...

Answered: 1 week ago

Question

★★★★★

Shares in the Canadian maker of BlackBerry smart phones peaked in August 2007, at two hundred and thirty six dollars. In retrospect, the company was facing an inflection point and was completely...

Answered: 1 week ago

Question

★★★★★

5. (18 points) Solve the following integrals: (a) (4 points) | [+1 + (1.43) 50 + (r)] +=(1.43) - 50+ sec(x) dr. 2 (b) (4 points) (23 2w-cos(w)+ 3 w2 + 1 ) dw. (c) (5 points) [9t(1 + 1)- dt. (d) (5...

Answered: 1 week ago

Question

★★★★★

a) Give an example of a discrete random variable and report its domain. b) Give an example of a continuous random variable and report its domain. c) How many X values can your random variable example...

Answered: 1 week ago

Question

★★★★★

Data table Direct materials 475 Direct labor 950 Variable manufacturing overhead 225 Fixed manufacturing overhead 1,275 Total manufacturing cost S 2,925 + 100 Number of cakes S 29 Cost per cakeTopaz...

Answered: 1 week ago

Question

★★★★★

3. List four points that you think are important to give the individual attention, when he or she is going to sell an argument or an idea to you.

Answered: 1 week ago

Question

★★★★★

4. Think of a situation where you would convince someone of an argument or an idea you had. a. What feelings did you want the other person to be left with when you finished? b. When you think about...

Answered: 1 week ago

Question

★★★★★

7. Think of a situation where you felt that you mastered the situation, i.e. where you had a positive feeling of completing the task you were to perform. A. Now develop a picture in your imaginary...

Answered: 1 week ago

Previous Question Next Question