To maximize its profit, the monopoly with the TR and TC curves shown in the figure above will produce
A) 0 units of output.
B) 5 units of output.
C) 15 units of output.
D) 20 units of output.
C
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Commercialization, market growth and factories emerged in rural areas
Indicate whether the statement is true or false
In which of the following groups of people in the U.S. would the incidence of poverty be the greatest?
A. Black families with a female head B. All families of seven or more members C. Farmers and farm laborers D. Families whose head is age 65 or over
Which one of these groups has the highest poverty rate?
A. The elderly B. Children C. White males over 50 D. Working class women
Suppose the market demand curve is given by Qd = 80 - 10P, and the market supply curve is given by Qs = 10 + 15P. What is the equilibrium price and quantity?
A. P* = $2.80 and Q* = 54 B. P* = $2.80 and Q* = 52 C. P* = $2.60 and Q* = 54 D. P* = $3.00 and Q* = 55