Refer to Table 15-3. If Comcast maximizes its profits how much profit will it earn?
A) $84 B) $40
C) $4 D) Comcast will break even.
C
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The demand for goods and services decreases with a rise in employment and income
Indicate whether the statement is true or false
What is the major cost associated with fighting ongoing inflation?
a. Higher interest rates. b. Lost potential output. c. Lower price level. d. Higher price level. e. None of the above.
Economists often evaluate a theory in terms of how consistently and accurately it predicts what happens. Implicit in this position is the belief that
A) if the theory's predictions are consistently accurate, then there is a fairly good chance that the theory is a good explanation of how things work. B) if the theory's predictions are consistently accurate, then there is a fairly good chance that the theory will be accepted by others. C) if the theory's predictions are consistently accurate, then there is a fairly good chance that the theory's assumptions (even if they initially seem unrealistic) capture something that is essential to explaining what it is that the theory is trying to explain. D) all of the above
Which of the following statements regarding growth was brought out from the material in Chapter 15?
A. There is no correlation between the volatility in growth rates and annual output growth. B. Stability results in higher output growth rates. C. The more volatile the growth rate, the higher is the annual output growth. D. Inflation volatility results in higher output growth rates.