Refer to the scenario above. If the equilibrium price charged by the firm in the short run is $170, the firm will earn ________
A) a profit of $10 per unit
B) a profit of $25 per unit
C) a profit of $0 per unit
D) a profit of $30 per unit
C
You might also like to view...
The price of a bag of corn chips is $3, and the price of a bottle of soda is $1. What is the relative price of a bag of corn chips?
A) 3 bottles of soda per bag of corn chips B) 1/3 bottle of soda per bag of corn chips C) $3 D) 33ยข
If the expected path of 1-year interest rates over the next five years is 1 percent, 2 percent, 3 percent, 4 percent, and 5 percent, the expectations theory predicts that the bond with the highest interest rate today is the one with a maturity of
A) two years. B) three years. C) four years. D) five years.
The IMF was
a. created during the Great Depression to regenerate trade. b. created during the Kennedy round of GATT negotiations in the 1960's. c. created at Bretton Woods to facilitate international exchange. d. abolished by President Nixon in the early 1970's.
In the market for bank reserves, the supply of reserves is
A. a downward sloping curve. B. a vertical curve. C. an upward sloping curve. D. none of these.