A picture frame company operates in a monopolistically competitive market. Its short-run equilibrium price is $80 and its ATC is $65. It sells 100 picture frames a week. From this we can tell:
A. this firm is making a normal profit.
B. other picture frame companies will want to exit the market.
C. there are no other picture frame companies in the area.
D. economic profits are $1,500.
Answer: D
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In the foreign exchange market, the
A) supply of dollars decreases as the exchange rate increases and the quantity of dollars supplied does not change. B) quantity of dollars supplied increases as the exchange rate decreases and the supply of dollars does not change. C) quantity of dollars supplied increases as the exchange rate increases and the supply of dollars does not change. D) supply of dollars increases as the exchange rate increases and the quantity of dollars supplied does not change. E) both the quantity of dollars supplied and the supply of dollars increases as the exchange rate increases.
Supplementary Security Incomes are provided by the U.S. government to those who:
a. regularly pay a social security tax. b. are below 65 years of age. c. lack the required education to be absorbed in the job market. d. earn less than $4,500 per year. e. are temporarily unemployed.
If the MPC = 0.8, and intended investment rises from $100 to $150, national income will increase by
a. $50 b. $125 c. $20 d. $250 e. $200
In 2015, the labor force participation rate was 62.6 percent. This means that:
A. 62.6 % of all working age people were employed. B. only 62.4 percent of labor force was in working age population. C. 62.6 % of all working age people wanted a job. D. there was 37.4 % unemployment.