MGTA05H3 Study Guide - Quiz Guide: Dial Tone, Oligopoly, Monopolistic Competition
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MGTA05H3 Full Course Notes
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This year, mcdavid"s decided to reduce the price of the big dave hamburger from down to . Ronald mcdavid thought that this might increase the volume of sales. Big daves from 10,000 to 20,000 during the year. His rent, and the cost of employing his workers did not change. The ingredients in each big dave did increase, from last year to . 50 this year. In addition, his decision to change the price of the big dave did not affect the sales of his other burgers. Since ronald mcdavid lives off of the profit from his business, the decision to lower the price of the big dave was: In a market economy, the amount produced is determined by the producers. They review the market and determine how much they think they can sell. So past transactions are the key determinants of the amount of production. Question 2: you are visiting a rural town in wyoming, touring the rocky.