Milky Moo and Mega Cow are the only sellers of milk. Milky Moo's supply function is QsMMoo = 12P - 6 at prices above $0.50 and zero at prices below $0.50. Mega Cow's supply function is QsMCow = 9P - 3 at prices above $0.33 and zero at prices below $0.33. At a price of $0.45:
A. the market supply of milk is between 9 and 10 units.
B. the market supply of milk is between 4 and 5 units.
C. the market supply of milk is between 5 and 6 units.
D. the market supply of milk is between 1 and 2 units.
D. the market supply of milk is between 1 and 2 units.
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Indicate whether the statement is true or false
Assuming there are 190 million people employed in the United States and 10 million people unemployed, the unemployment rate would therefore equal
A. 10 percent. B. 1.9 percent. C. 5 percent. D. an undetermined amount given the lack of information.
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A) 6.5 percent. B) 18 percent. C) 45 percent. D) 62.5 percent.
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