Multiple Choice
There is only one gas station within hundreds of miles. The owner finds that when she charges $3 a gallon, she sells 199 gallons a day, and when she charges $2.99 a gallon, she sells 200 gallons a day. The marginal revenue of the 200th gallon of gas is
A) $.01.
B) $1.
C) $2.99.
D) $3.
E) $600.
Correct Answer:
Verified
Correct Answer:
Verified
Q40: Which of the following is true of
Q48: Patent laws that allow the inventor to
Q51: Figure 11-9 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX9057/.jpg" alt="Figure 11-9
Q52: To increase joint profits, a cartel will
Q53: If a local government began licensing funeral
Q53: If a local ready-mix cement company is
Q57: If a firm has substantial market power,
Q73: Compared to the profit-maximizing outcome, average cost
Q181: Which of the following best explains why
Q216: Which of the following factors is least