This table shows price and quantity produced for a single firm in a perfectly competitive market.PriceQuantity$1023$1024$1025$1026Given the information in the table shown, what is the average revenue when 24 units are produced?
A. $10
B. $240
C. $24
D. $2.40
Answer: A
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Country A has a lower stock of capital than Country B, but the supply of labor in both the countries is equal
A) An additional unit of capital will increase output in Country A only if there is an increase in the total efficiency units of labor. B) The increase in output due an additional unit of capital will be larger in Country A than in Country B. C) The increase in output due an additional unit of capital will be smaller in Country A than in Country B. D) An additional unit of capital will increase output in Country B only if there is an increase in the total efficiency units of labor.
Assume the Treasury borrows $5 billion from the non-bank public and spends it
The effect on bank reserves is that they will __________ by $5 billion when the Treasury borrows and then bank reserves will __________ by $5 billion when the Treasury spends the money. A) rise; fall B) fall; rise C) rise; rise D) fall; fall
Reaching and enforcing an agreement between members of a cartel becomes more difficult as the size of the group __________
Fill in the blank(s) with correct word
The aggregate expenditure curve shows
What will be an ideal response?