If a firm is producing the level of output at which the total cost curve intersects the total revenue curve,
a. profit is positive
b. profit is maximized
c. profit is zero
d. costs are minimized
e. average revenue is maximized
C
You might also like to view...
If immigration increases the productivity of domestic workers, then it:
A. Decreases the return on capital B. Means that immigrant workers and domestic workers are substitutes C. Means that immigrant workers are entering low-wage occupations D. Increases the return on capital
Native-born workers may not be harmed by immigration if:
A. They are complementary resources to immigrant workers B. They are substitute resources to immigrant workers C. Demand for their labor is elastic D. Immigrants remit their earnings to their home countries
One way to achieve faster growth in GDP per person is to increase the
A) number of women working in the home rather than in the workforce. B) growth rate of the quantity of money. C) growth rate of human capital. D) growth rate of the population. E) limits on international trade in order to keep more of total spending on domestically produced goods.
If the average propensity to consume is 1.0, the marginal propensity to consume is 0.8, and real disposable income increases by $100, the additional saving is
A) $0. B) $20. C) $80. D) $100.