Use the Information Below to Answer the Following Questions

question 40

Multiple Choice

Use the information below to answer the following questions.
Fact 14.3.2
Suppose that Tommy Hilfiger's marginal cost of a jacket is $100 (a constant marginal cost) and at one of the firm's shops, total fixed cost is $2,000 a day. The profit-maximizing number of jackets sold in this shop is 20 a day. Then the shops nearby start to advertise their jackets. The Tommy Hilfiger shop now spends $2,000 a day advertising its jackets, and its profit-maximizing number of jackets sold jumps to 50 a day.
-Refer to Fact 14.3.2. Having a brand name helps Tommy Hilfiger increase its economic profit because

• A)the goal of a brand name is to encourage people to buy just one good. After the initial purchases, Tommy Hilfiger can decrease quality and produce goods at a lower average total cost, which increases economic profit.
• B)in every type of market, consumers are most comfortable when buying from a firm with a well-known brand name. And the greater the number of consumers, the greater is the economic profit.
• C)a brand name provides an incentive to achieve high and consistent quality, and consumers will purchase goods from Tommy Hilfiger rather than from an unknown producer because they know what to expect from Tommy Hilfiger.
• D)having a brand name usually leads to a monopoly.
• E)none of the above

Understand the basic structure and purpose of Medicaid.

Identify and describe examples of entitlement programs.

Comprehend the stages of the policymaking process.

Define and exemplify domestic policy.

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Definitions:

Sharp Chest Pain

A severe and often sudden discomfort in the chest area, which can be a symptom of various medical conditions.

Emergency Response Team

A group of professionals tasked with responding to and managing emergencies or disasters, often trained in medical, fire, and/or rescue operations.

Defibrillator

A medical device used to deliver an electric shock to the heart, aiming to restore a normal heart rhythm in cases of cardiac arrhythmias.

Alveoli

Tiny air sacs in the lungs where the exchange of oxygen and carbon dioxide takes place, crucial for breathing.