The MR = MC rule

Consider the following graph for  . Which one of the following functions can represent the graph? a.   

A police officer can search a person and seize their property if they have _________________ or the belief that a crime has been or is about to be committed.

Frito-Lay dominates the snack food business,  with half of all salty snack items.  Competitors say that Frito-Lay has secured its dominant position with shelf-space rentals in retail stores,  paying as much as $40,000 annually to secure prime shelf space in grocery and convenience stores.  “Frito can afford it, ” says a regional rep for a competing company,  “we can’t”. A.   Explain what type of market structure firms in the salty snack foods market operate under.  Why do you say that? B.  What are the costs faced by firms in salty snacks?  Please label whether these costs are fixed or variable,  implicit or explicit. C.   Why is there so much advertising in the salty snacks industry? Does advertise promote efficiency or inefficiency?  Explain

  Total Output Price Total Revenue Marginal Revenue Average Total Cost Marginal Cost 1 $ 100 $ 100.00 $ 30 2 90 63.00 26 3 80 52.67 32 4 70 49.50 40 5 60 49.60 50 6 50 50.00 52 7 40 52.29 66 8 30 55.75 80 9 20 60.67 100 10 10 67.60 130   Refer to the data above for a nondiscriminating monopolist.  a)  List TR and MR (fill in the table) for each level of output (Q) b)   What level of output should the monopolist produce?  Using the profit-maximizing rule for the firm to explain. c)  Is this monopolist earning profit?  Do all monopoly’s make a profit?  Why or why not?  

Industries X and Y both have four-firm concentration ratios of 32 percent, but the Herfindahl index for X is 256, while that for Y is 264. These data suggest

The ___________________ Act is a federal policy that requires local police to detain those who have entered the US illegally and also have a criminal conviction until they can be picked up by an Immigration & Customs Enforcement officer.

The ___________________ Act is a federal policy that requires local police to detain those who have entered the US illegally and also have a criminal conviction until they can be picked up by an Immigration & Customs Enforcement officer.

The __________________ is a type of warrant used when the police have a reasonable suspicion that those inside the location might destroy physical evidence or be a physical threat.

Frito-Lay dominates the snack food business,  with half of all salty snack items.  Competitors say that Frito-Lay has secured its dominant position with shelf-space rentals in retail stores,  paying as much as $40,000 annually to secure prime shelf space in grocery and convenience stores.  “Frito can afford it, ” says a regional rep for a competing company,  “we can’t”. A.   Explain what type of market structure firms in the salty snack foods market operate under.  Why do you say that? B.  What are the costs faced by firms in salty snacks?  Please label whether these costs are fixed or variable,  implicit or explicit. C.   Why is there so much advertising in the salty snacks industry? Does advertise promote efficiency or inefficiency?  Explain