If this farmer is maximizing profit, then total profit is
A. $48.
B. $180.
C. $132.
D. $72.
A. $48.
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Write a brief history of the federal income tax in the United States. Your description should reference dates and constitutional/political issues, if any
What will be an ideal response?
A firm in a perfectly competitive industry
a. is unaffected by the entrance of new firms into the industry, since entering firms affect only the prices they themselves receive. b. always produces more output in the long run than in the short run. c. may choose a different output in the long run than in the short run. d. earns economic profit in the long run but not in the short run.
If output is above its natural rate, then according to sticky-wage theory
a. workers and firms will strike bargains for higher wages. This increase in wages shifts the short-run aggregate supply curve right. b. workers and firms will strike bargains for higher wages. This increase in wages shifts the short-run aggregate supply curve left. c. workers and firms will strike bargains for lower wages. This decrease in wages shifts the short-run aggregate supply curve right. d. workers and firms will strike bargains for lower wages. This decrease in wages shifts the short-run aggregate supply curve left.
Which of the following would probably not result in acquiring human capital?
A. Purchasing a new piece of machinery. B. Taking an economics course. C. Playing varsity soccer. D. Learning how to make chicken parmigiana.