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If a firm wants to maximize profit, they should hire to the point where?
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- A firm is determining the price of a new product and uses a mark-up of 50%. If direct out-of-pocket cost is $50,000 and fully loaded manufacturing cost is $150,000, what price should be suggested if the firm uses cost-plus pricing?a.) $75,000b.) $150,000c.) $200,000d.) $225,000
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- Which of the following would make it difficult for oligopolists to collude?a. Thee are few firms in the market.b. There are few buyers in the marketc. The oligopolists havr similar costs of production.d. Oligopolists usually produce a homogeneous product