Question 1 Â At its profit-maximizing output, the firm in the above figure incurs a total cost of production of Answer a. $7,000. Â b. $9,000. Â c. $6,300. Â d. $3,900. Â 4 points.
Question 2 Â Product differentiation always exists in Answer a. perfect competition. Â b. monopolistic competition. Â c. oligopoly. Â d. monopoly. Â 4 points
Question 3 Â Suppose Chase Manhattan Bank announces an increase in the prime rate it charges, and by the end of the day, all the other banks in New York have matched the increase. Get FInance Help Today
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