Round 11: Tossup 13
Okishio’s theorem proved that this quantity can sometimes increase over time, contradicting Marx. Supply equals the derivative of this quantity with respect to price by Hotelling’s lemma. In a perfectly competitive market, firm entry causes the “economic” form of this quantity to go to zero in the long run. The “normal” form of this quantity is less than its “accounting” form since it incorporates opportunity cost. To maximize this quantity, firms will produce at the intersection between price and ATC because marginal revenue will equal marginal cost. For 10 points, markup pricing increases what quantity, which equals the difference between total revenue and total cost? ■END■
ANSWER: profit [accept rate of profit; accept monopoly profit or economic profit or normal profit or accounting profit]
<Editors, Social Science> | Packet N
= Average correct buzz position
Buzzes
| Player | Team | Opponent | Position | Value |
|---|---|---|---|---|
| William Kiker | Dartmouth A | Williams B | 27 | 10 |
| Luc Vulliez | Amherst A | Brown B | 48 | 10 |
| Lucas Guan | Brown A | Dartmouth B | 48 | 10 |
| Indigo Khanna | Vermont B | Boston College A | 94 | 10 |
Summary
| Tournament | Edition | TUH | Conv. % | Neg % | Average Buzz |
|---|---|---|---|---|---|
| UK (North) | UK | 1 | 100% | 0% | 94.00 |
| Southern California | US | 1 | 100% | 0% | 52.00 |
| Eastern Canada (2) | US | 1 | 100% | 0% | 104.00 |
| Upper Mid-Atlantic | US | 2 | 100% | 0% | 56.00 |
| Northeast | US | 4 | 100% | 0% | 54.25 |
| Southeast | US | 1 | 100% | 100% | 105.00 |