A price-taking firm's variable cost function is C = Q3, where Q is the output per week. It has a sunk fixed cost of $2,000 per week. Its marginal cost is MC = 3Q2. What is the profit-maximizing output if the price is P = $192?
A. 0
B. 6
C. 8
D. 10
C. 8
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About _____ of the world's population live in LDCs.
Fill in the blank(s) with the appropriate word(s).
An unanticipated decline in the real interest rate in the loanable funds market will cause the
a. aggregate demand curve to shift to the right. b. aggregate demand curve to shift to the left. c. long-run aggregate supply curve to shift to the left. d. natural rate of unemployment to fall.
Which of the following industrial countries experienced a relatively slower growth of real GDP in the latter half of the 1990s?
a. Canada b. United States c. Italy d. France e. Japan
For consumers, oranges and bananas are substitutes. Hence if the price of an orange rises, the demand for Question 8 options:
A. bananas increases. B. oranges increases. C. bananas decreases. D. oranges decreases.