these two investment opportunities?20,000100,000200,000150,000
Question 20 - Multiple Choice ID: 5155694CorrectQuestion: A yo-yo manufacturer is producing 5,000 yo-yos selling them for $1.50 each. At this level of output, marginal revenue is $1.50yo-yo manufacturer Is a competitive firm (price taker)Is a monopolistic firm (price searcher)
Question 21 - Multiple Choice ID: 5155696CorrectQuestion: In the spring and summer of 1993, Chronic Wasting Disease wiped out 25% of the elk herd in Wyoming, and the number of staccordingly. In order to compensate for the decrease in license issuances, Wyoming dramatically increased the price. Unfortunately, thireported a 50% decrease in total elk license revenues for '93. Which of the following most accurately describes this economic situation?
Question 22 - Multiple Choice ID: 5155699CorrectQuestion: Mr. D's Barbeque of Pickwick, TN, produces 10,000 dry-rubbed rib slabs per year. Annually, Mr. D's fixed costs are $50,000. $2. Suppose Mr. D smoked 10% more ribs. Total cost would fall, but by less than 10%Average total cost would drop