According to the graph shown, producing 14 units:
A. will earn more profits than producing 9 or 11 units.
B. will earn zero profit.
C. is not as profitable as producing 11 units.
D. will earn negative profits.
Answer: C
You might also like to view...
If a hospital is experiencing economies of scale,
a. its average cost curve is positively sloped as output increases. b. its average cost curve is negatively sloped as output increases. c. it should reduce its output level to lower costs. d. quality is falling as output is rising. e. both b and c are true.
If the reserve ratio is 6 percent, then $9,000 of additional reserves can create up to
a. $159,000 of new money. b. $54,000 of new money. c. $150,000 of new money. d. $141,000 of new money.
Which of the following predictions is consistent with public choice theory?
A) Voters will sometimes cast votes based on whether they like a candidate's personality, not on hard facts. B) Many voters will be uninformed on political and government issues. C) Much legislation will be special interest legislation. D) b and c E) a, b, and c
Comparative advantage implies choosing the activity that
A) has a high opportunity cost. B) is inside the production possibilities frontier. C) has the lowest opportunity cost. D) does not demand any specialization.