If the price is $20 per unit, what is the break even amount of units for technology A?
a. 50
b. 60
c. 70
d. None-They would have to shut down
d
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It does not make economic sense to maximize short run performance over long run performance
Indicate whether the statement is true or false
Which of the following statements is true?
A) Productive inefficiency implies that it is possible to produce more of one good and no less of another, but only if additional resources are made available. B) Productive efficiency implies that it is possible to produce more of one good and no less of another, even without additional resources. C) Productive inefficiency implies that it is impossible to produce more of one good and no less of another. D) Productive inefficiency implies that it is possible to produce more of one good and no less of another, even without additional resources.
If there is an unrest in Europe that threatens the economic stability of Turkey, the
A. supply of the Turkish currency will fall. B. demand for the Turkish currency will fall. C. demand for the Turkish currency will rise. D. supply of the Turkish currency will rise.
The demand for a monopoly's output is p = 100 - Q. The firm's production function is Q = 2L. Which of the following is the firm's demand for labor?
A) w = 200 - 8L B) w = 200 - 4L C) w = 100 - L D) w = 2L