Which of the following must be true if a price-searcher firm is operating at the profit-maximizing output rate?
a. The marginal cost of producing the last unit is greater than the marginal revenue derived from its sale.
b. The marginal cost of producing the last unit is no greater than the marginal revenue derived from its sale.
c. The total cost of producing all units is no greater than the total revenue derived from the sale of the units.
d. The total cost of producing all units is less than the total revenue derived from the sale of the units.
B
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The table above gives the aggregate demand and aggregate supply schedules in Lotus Land. The short-run macroeconomic equilibrium is a price level of ________ and a real GDP of ________
A) 90; $400 B) 100; $400 C) 110; $500 D) 120; $400
Compared to their percentage shares in 1968, over the next 40 years, the percentage shares of each of the lowest four quintiles
A. rose substantially. B. rose somewhat. C. stayed about the same. D. declined.
In July in San Francisco, for example, only ____% of Southwest flights arrived on time, compared with 75.7% for United Airlines, the largest carrier there.
Fill in the blank(s) with the appropriate word(s).
Which is not a job of the Federal Reserve?
A. Check clearing B. Issuing currency C. Insuring bank deposits D. Controlling the rate of growth of the money supply