Multiple Choice
Suppose a fishing boat currently brings 10,000 fish to market and earns a profit of$40,000 when the price of fish is $8. Suppose the boat dealer had overcharged the boat owner for the boat and refunded the overcharged amount. If the profit increases to $7.50per fish, what was the value of the refund from the dealer?
A) $2.50
B) $25,000
C) $3.50
D) $35,000
E) $75,000
Correct Answer:

Verified
Correct Answer:
Verified
Q97: A firm will never operate at a
Q98: The MR = MC rule is no
Q99: Suppose two fishing boats are both run
Q100: Suppose you're producing designer clothes for Barbie
Q101: Price = MR only if the price
Q103: Suppose you were working for Richstone's bakery
Q104: If price increases by 10 percent and
Q105: If MR = MC, then TR and
Q106: Following the MC = MR rule to
Q107: If MR > MC, a profit-maximizing firm