The demand curve faced by a perfectly competitive firm rev: a. has unitary elasticity.
b. yields constant total revenues even when price changes.
c. is identical to the market demand curve.
d. is the same as its marginal revenue curve.

conquest, inc. produces a special kind of light-weight, recreational vehicle that has a unique design. it allows the company to follow a cost-plus pricing strategy. it has $9,000,000 of average assets, and the desired profit is a 10% return on assets. assume all products produced are sold. additional data are as follows: sales volume 1000 units per year; variable costs $1000 per unit; fixed costs $4,000,000 per year; using the cost-plus pricing approach, what should be the sales price per unit?

Asemiprofessional baseball team near your town plays two home games each month at the local baseball park. they split the concessions 50/50 with the city, but keep revenue from ticket sales for themselves. the city charges the team $100 each month for the three-month season. the team pays the players and manager a total of $1,000 a month. the team charges $10 for each ticket, and the average customer spends $7 at the concession stand. attendance averages 30 people at each home game. in order to break even, how many tickets does the team need to sell for each game? a. 33b. 37c. 41e. 49f. 244

One country has a comparative advantage over another country in the production of a good if ithas a curved production possibilities curve and the other country has a linear production possibilities curve. has lower fixed costs than the other country. has a linear production possibilities curve and the other country has a curved production possibilities curve. is a lower opportunity cost producer of the good.