Cheating large firms results in no cost for consumers or society. (a) this is true because a large firm is not likely to go out of business (b) this is true because a large firm makes enough profit to cover the costs. (c) this not true because these cost will passed on to consumers in the form of higher prices (d) this is not true because the firm will make up the loss by making lower quality products.

PRICE (Dollars per room) 500 450 400 350 300 250 200 150 Demand Graph Input 1001 Market for Big Winner's Hotel Rooms Price 300 (Dollars per room) Quantity 200 Demanded (Hotel rooms per night) Demand Factors Average Income 50 (Thousands of 100 dollars) 50 Airfare from YYZ to 200 LAS 0 (Dollars per 0 50 100 150 200 250 300 350 400 450 500 roundtrip) QUANTITY (Hotel rooms) Room Rate at Lucky (Dollars per night) 250 For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Big Winner is charging $300 per room per night. If average household income increases by 20%, from $50,000 to $60,000 per year, the quantity of rooms demanded at the Big Winner rooms per night to rooms per night. Therefore, the income elasticity of demand is from , meaning that hotel rooms at the Big Winner are good. If the price of an airline ticket from YYZ to LAS were to increase by 10%, from $200 to $220 roundtrip, while all other demand factors remain at…

I am stuck on the True False question Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Price Marginal Cost 3 Price Marginal Revenue Quantity (a) Find the point (A, B, C, D, or E) that corresponds to the profit maximizing price and quantity. (Select only one letter.) (b) Which number corresponds to consumer surplus on the graph? (c) Which number corresponds to producer surplus on the graph? (d) Which number corresponds to deadweight loss on the graph?

The owner of a skating rink rents the rink for parties at $1200 if 60 or fewer skaters attend, so that the cost per person is $20 if 60 attend. For each 5 skaters above 60, she reduces the price per skater by $0.50. (a) Construct a table that gives the revenue generated if 60, 70, and 80 skaters attend. No. of skaters Total Revenue 60 70 80 Price per Skater $ $ $ (b) Does the owner's revenue from the rental of the rink increase or decrease as the number of skaters increases from 60 to 80? O The revenue increases. O The revenue decreases. (c) Write the equation that describes the revenue for parties with x groups of five skaters more than 60 skaters. R(x) = (d) Find the number of skaters that will maximize the revenue. skaters (e) Find the maximum revenue. $ (f) When the revenue is at the maximum possible, what price is paid per skater? $

Baseball has not been convicted of violating the Sherman Antitrust Act because (a) baseball is the national pastime. (b) baseball was the first sport to institute the Reserve Clause. (c) the Sherman Antitrust Act does not apply to sports. (d) baseball has been exempt from the Antitrust laws.

(J)  Pure monopolies are said to be allocatively inefficient because  price is equal to marginal cost.  price is greater than marginal cost.  price is less than marginal cost.  they produce whereMR>MC

(a) Find the point (A, B, C, D, or E) that corresponds to the profit maximizing price and quantity. (Select only one letter.) (b) Which number corresponds to consumer surplus on the graph?

Price ($) 1000 500 300 0 300 500 Supply Demand What is the total cost of producing 300 iPads? 1000 Quantity

Online companies have transformed the way businesses find the best supplies at the best prices. True or False True False