Suppose the nation of Bittle produces only two goods, teapots and surfboards. If Bittle produces teapots, it can make 40 per day. If Bittle produces only surfboards, it can make 70 per day. What is the opportunity cost of one teapot in Bittle?
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Suppose the nation of Bittle produces only two goods, teapots and surfboards. If Bittle produces teapots, it can make 40 per day. If Bittle produces only surfboards, it can make 70 per day. What is the opportunity cost of one teapot in Bittle?
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- Suppose that at one of the Talbot's shops, marginal cost of a coat is constant at $150, and total fixed cost is $3,000 a day. The shop maximizes its profit by selling 15 coats a day at $500 per coat. Then the shops nearby increase their advertising. The Talbot shop responds by spending $1,500 a day more on advertising its coats. As a result, its profit-maximizing number of coats sold increases to 25 a day at $400 per coat. In the scenario above, as a result of increased advertising, Talbot's markup a. decreases by $100. b. increases by $50. C. decreases by $60. d. increases by $75.GadubhaiSolve it correctly please. I will rate accordingly with 4votes.