In the above table, the efficient level of output is
A) 2,000 units.
B) 3,000 units.
C) 4,000 units.
D) 5,000 units.
C
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At the beginning of the fall semester, college towns experience large increases in their populations, causing a(n):
A. decrease in the quantity of apartments demanded. B. increase in the demand for apartments. C. increase in the supply of apartments. D. decrease in the quantity of apartments supplied.
A profit-maximizing monopoly will NEVER produce along a range of output for which
A. the price elasticity of supply is greater than 1. B. the price elasticity of demand is greater than 1. C. the demand curve is inelastic. D. the demand curve is elastic.
You will agree to lend your sister's grandma's daughter $2,000 for a year, if at the end of the year she pays you $2,200. The interest rate you are charging her is
A. 1.1%. B. 9.09%. C. 10%. D. 20%.
Menu costs are a possible reason for
A) swings in the labor force participation rate. B) low levels of consumer confidence in response to aggregate supply shocks. C) aggregate supply shocks. D) sticky product prices.