The firm in the above figure has an economic profit of ________
A) $0
B) $80
C) $160
D) more than $161
E) less than zero, that is, the firm has an economic loss
A
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A decrease in the interest rates in a country:
A) increases net exports. B) does not affect net exports. C) reduces net exports. D) results in an inflow of capital to the country.
Explain the economic assumption that "people are rational."
What will be an ideal response?
The domestic real interest rate in a small open economy is
A) determined by the intersection of the supply curve and demand curve for loanable funds in the country. B) equal to the world real interest rate. C) the same as its nominal interest rate. D) determined by the total value of net exports in the country.
If supply and demand analysis is a measure of how, then elasticity is a measure of:
A. how quickly. B. why. C. how much. D. when.