Refer to the data provided in Table 9.3 below to answer the following question(s).
Table 9.3qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 1100401404040 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.43Refer to Table 9.3. The lowest output this firm would produce before shutting down is ________ units.
A. 1
B. 2
C. 3
D. 4
Answer: C
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The primary interest of firms engaging in offshoring is to find lower wages and to decrease production costs
Indicate whether the statement is true or false
Which of the following theories of business cycles implies that efficient markets, characterized by perfect information and by rational business firms and households, will still be characterized by business cycles?
A) Lucas's rational expectation model B) the natural rate hypothesis C) the real business cycle model D) classical theory
What is the full-employment output level?
a. The output level that results when the loanable funds market clears b. The output level that results when the returns to labor are zero c. The output level that results when factories are completely full d. The output level that results when the labor market clears e. The output level that would occur if the output level was positive.
Which of the following is not a symptom associated with a price floor?
a. Excess of quantity demanded over quantity supplied. b. Sellers offering discounts in disguised forms. c. Problem of disposal created by excess supply. d. Survival of inefficient businesses.