Refer to the table above. The firm ________ in the short run
A) earns a profit of $22
B) incurs a loss of $22
C) earns a profit of $76
D) incurs a loss of $76
C
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If the Fed pursues a strategy of targeting an interest rate when fluctuations in money demand are prevalent
A) fluctuations of nonborrowed reserves will be small. B) fluctuations of nonborrowed reserves will be large. C) the Fed will probably quickly abandon this policy, as it did in the 1960s. D) the Fed will probably quickly abandon this policy, as it did in the 1950s.
For small armies, a volunteer army would be less costly
a. True b. False
If the typical firm’s minimum average variable cost is $10 at an output of 50 units, if marginal cost is $20 at 70 units, and there are 1,000 firms in the industry, sketch supply curves for the typical firm and for the industry as a whole.
What will be an ideal response?
Recall the Application about the role of megacities in economic growth to answer the following question(s).According to the Application, who recognized that specialization of labor can generate higher productivity?
A. Adam Smith B. Karl Marx C. David Ricardo D. John Maynard Keynes