When P = $5, the quantity demanded of a good is 30 units, and the quantity supplied of the good is 50 units. For every $1 decrease in the price of this good, quantity demanded rises by 5 units and quantity supplied falls by 5 units. The equilibrium price of this good is ___________and the equilibrium quantity of this good is _________ units
A) $3; 40
B) $4; 35
C) $2; 45
D) $2; 35
E) $3; 35
A
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If a production function is represented as q = LaKb, the long-run average cost curve will be horizontal as long as
A) a + b = 0. B) a + b = 1. C) q > 0. D) L = K.
Sam, who is 55 years old and has been a steelworker for 30 years, is unemployed because the steel plant in his town closed and moved to Mexico. Sam is experiencing:
What will be an ideal response?
If an industry has 25 firms that collectively have $150 million in total sales and the top three firms in this industry account for $78 million in sales and the fifth through twenty-fifth firms account for $60 million in sales, what is the amount of sales for the fourth largest firm?
A. $18 million B. $6 million C. $12 million D. none of these
________ were the main sources of mortgage loans in Europe between 2000 and 2009.
A. Treasury bonds B. Eurobonds C. Covered bonds D. Global bonds