Refer to the table below. If the market price for the firm's product is $80, the firm will:
The following table shows cost data for a firm that is selling in a purely competitive market.
A. Produce 4 units
B. Produce 5 units
C. Produce 6 units
D. Shut down
A. Produce 4 units
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Why are healthcare and education not public goods and why do governments play a large role in the markets for these services?
What will be an ideal response?
Demand refers to
A) how much of a good people are willing and able to buy at a particular price. B) the different quantities of a good people are willing and able to buy at different prices. C) the different quantities of a good people are willing and able to buy at a particular price. D) how much of a good people are willing to buy at different prices. E) none of the above
Suppose that when a perfectly competitive firm produces 500 units of output a day, it earns an economic loss. If the price of each unit of output is $1.50, then, in the short run, it's clear that this firm:
A. should shut down. B. is not maximizing its profit. C. should produce more than 500 units a day. D. should not shut down if its total variable cost is less than $750.
A forecaster used the regression equationQt = a + bt + c1D1 + c2D2 + c3D3and quarterly sales data for 1996 I - 2013 IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D1, D2 and D3 are dummy variables for quarters I, II, and III. 
Using the estimation results given above, the predicted level of sales in 2014 IV is ________ units.
A. 133.5 B. 132 C. 127.50 D. 125 E. none of the above