Refer to the accompanying graph. If this firm is a price taker, then when the price of each unit of output is $30, this firm's total cost at its profit-maximizing level of output is ________.
A. $2,700
B. $1,200
C. $900
D. $1,600
Answer: D
You might also like to view...
Which of the following move the handling of a common property resource closest to efficiency?
A) ensuring that the sellers of the resource are perfectly competitive B) ensuring that the seller of the resource is a monopolist C) banning the sale of the resource D) banning the use of the resource E) assigning a usage fee for access to the resource
The United States has been willing to trade-off greater efficiency for greater wage equality.
Answer the following statement true (T) or false (F)
The price of a stock will increase, ceteris paribus, when
A. Future earnings expectations decrease. B. Terrorists cause people to be fearful. C. Consumer confidence increases. D. The interest rate increases.
The labor force participation rate among both men and women 25 to 54 ________ from 2000 to today.
A. rose dramatically B. fell (particularly for men) C. stayed relatively constant D. rapidly vacillated