Refer to the graph shown. If the market price is P4, the firm will produce:
A. Q4 and earn a profit.
B. Q3 and break even.
C. Q2 and incur a loss.
D. Q3 and earn a profit.
Answer: A
You might also like to view...
Ethanol (E10) refers to
a. an alternative fuel that includes 10 units of MTBE b. the fuel commonly called gasohol c. a fuel comprised of 10 percent ethanol and 90 percent gasoline d. all of the above e. (b) and (c) only
If the price of a normal good falls, what happens to the quantity demanded of that good?
What will be an ideal response?
If income increases by $100 and saving increases by $25, the slope of the consumption function equals
What will be an ideal response?
If nominal GDP rises:
A. real GDP may either rise or fall. B. we can be certain that the price level has risen. C. real GDP must fall. D. real GDP must also rise.