Refer to Figure 12-9. At price P4, the firm would
A) shut down. B) lose an amount equal to its fixed cost.
C) lose an amount less than fixed cost. D) make a profit.
D
You might also like to view...
What effect did the decrease in the value of the dollar have on the U.S. trade deficit in the period from 2006 to 2009?
A. It decreased the trade deficit as Americans bought more U.S. capital goods. B. It decreased the trade deficit as foreigners were attracted to the increased value of U.S. products and Americans bought fewer imports. C. It increased the trade deficit as U.S. investors bought more domestic financial assets. D. It increased the trade deficit as Americans bought more imports and foreigners bought fewer U.S. products.
Other things remaining the same, which of the following is likely to happen if there is a decrease in the price of cars?
A) There will be a decrease in both the wage rate and the employment levels in the petroleum extraction industry. B) There will be an increase in the wage rate and a decrease in the employment levels in the petroleum extraction industry. C) There will be a decrease in the wage rate and an increase in the employment levels in the petroleum extraction industry. D) There will be an increase in both the wage rate and the employment levels in the petroleum extraction industry.
In the table above, if the cost of capital is $20 per day and an hour of labor is $15 per day, which method is economically efficient?
A) A B) B C) C D) D
The equation for determining real GDP for year X is:
A. 
B. 
C. 
D. 