What are the total profits if four units are produced?
a. 40
b. 70.
c. -30.
d. 20.
d
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Luigi is willing to lend Klaus $5,000 for one year at a nominal rate of interest of 7%. Both Luigi and Klaus expect the rate of inflation to be 2% in the next year. How many dollars will Klaus have to pay Luigi in one year?
A. $350 B. $5,000 C. $5,350 D. $4,650
How much labor does a firm require to produce q = 1000 when capital is fixed at 5 and they have a production function equal to q = 200L0.5K0.5?
A) L = 5 B) L = 2.5 C) L = 200 D) L = 2.25
Any action, other than lowering its price, that a firm undertakes to increase the demand for its output is called
a. limit pricing b. price enhancement c. illicit competition d. nonprice competition e. price intensive competition
The higher the nominal interest rate:
A. the less money individuals will hold for any given level of transactions and the higher the velocity of money. B. the less money individuals will hold for any given level of transactions and the lower the velocity of money. C. the more money individuals will hold for any given level of transactions and the lower the velocity of money. D. the more money individuals will hold for any given level of transactions and the higher the velocity of money.