bette's breakfast, a perfectly competitive eatery, sells its "breakfast special" (the only item on the menu) for $5.00. the costs of waiters, cooks, power, food, etc. average out to $3.95 per meal; the costs of the lease, insurance, and other such expenses average out to $1.25 per meal. bette should a. lower her output. b. close her doors immediately. c. raise her prices above the perfectly competitive level. d. continue producing in the short run, but plan to go out of business in the long run.

Acme foods wants to make its chips saltier, but it doesn't want to spend more than it has to on salt. a sample of consumers are asked to compare its current chip (saltiness = 100) with saltier versions and to say whether the new version is saltier. on average, sample consumers reliably say the new chip is saltier when its saltiness value is 108, but not when its saltiness value is below 108. assuming acme foods' sample consumers are representative of people in general, which of the following best represents the just noticeable difference for saltiness? a. 8% b. 108 c. 80% d. 100