Refer to the information provided in Table 8.8 below to answer the following question(s). Table 8.8Number of Fruit BasketsTFCTVCTCMC0$100 $0$100 --11002012020210030 13010310042 14212410062 16220510092 192306 100136 236 44Refer to Table 8.8. Assume that Polynesian Fruit sells fruit baskets in a perfectly competitive market. The market price of a fruit basket is $44. To maximize profits, Polynesian Fruit should sell ________ fruit basket(s) and their profit is ________.
A. four; $14
B. five; $28
C. three; $10
D. six; $28
Answer: D
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The main input into the production of Starbuck’s coffee is imported coffee beans. If the dollar depreciates, how will this affect the U.S. retail coffee market?
A. Input prices will fall and supply will decrease. B. Input prices will fall and supply will increase. C. Input prices will rise and supply will decrease. D. Input prices will rise and supply will increase.
How does a rise in the federal funds rate affect aggregate demand, real GDP, and the price level?
What will be an ideal response?
Consumer equilibrium occurs at: a. the point where the indifference curve crosses the budget line from below. b. any point of intersection between an indifference curve and the budget line. c. the midpoint of every indifference curve
d. the point of tangency between an indifference curve and the budget line.
The Phillips Curve is:
a. A theoretical relationship between inflation and the real risk-free interest rate. b. A statistical relationship between a nation's current account and its inflation rate. c. A statistical, historical relationship between inflation and unemployment. d. A theoretical relationship between inflation and unemployment. e. A curve showing Phillips-head screwdriver sales in various countries during the 1960s.