In the above figure, if the price is $16, a profit-maximizing perfectly competitive firm will
A) produce 50 units.
B) produce 35 units.
C) produce 10 units.
D) choose not to produce.
B
You might also like to view...
Which of the following will not cause a shift in the demand curve for good X?
a. A change in the price of a complementary good. b. A change in the price of good X. c. A change in consumer tastes and preferences for good X. d. An increase in consumer income.
Assume that the U.S. interest rate is 5%, the European interest rate is 2%, and the future expected exchange rate in one year is $1.224. If the spot rate is $1.16, then the expected dollar return on euro deposits is:
a. 7.52% b. 5% c. 3% d. 2%
Describe how if a price-fixing game is repeated over and over, the cooperative outcome might be attained.
What will be an ideal response?
When money serves as a standard for comparing values of different things, it is functioning as a
A. hedge against inflation. B. standard of deferred payment. C. unit of accounting. D. store of value.