Multiple Choice
Use the information below to answer the following questions.
Fact 14.2.1 Groceries for the Gourmet Palate
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 old-fashioned brew kettle, is barely beer. It's not carbonated like a Bud, 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.
Source: Time, April 14, 2008
-Refer to Fact 14.2.1. The Utopia's price of $120 is ________ marginal cost in the short run and ________ marginal cost in the long run.
A) greater than; greater than
B) greater than; less than
C) less than; greater than
D) less than; less than
E) equal to; equal to
Correct Answer:

Verified
Correct Answer:
Verified
Q10: The decision to undertake product development in
Q81: Use the figure below to answer the
Q83: Use the figure below to answer the
Q84: Use the information below to answer the
Q85: Use the figure below to answer the
Q88: Other than by adjusting price, the two
Q90: In monopolistic competition<br>A)firms can collude.<br>B)each firm has
Q91: Use the information below to answer the
Q103: For a firm in monopolistic competition,the marginal
Q130: One factor that distinguishes a monopoly from