Exhibit 8-2 Total revenue and total cost graph
In Exhibit 8-2, economic profit for the firm is at a maximum when output per week equals:
A. 100 units.
B. 200 units.
C. 250 units.
D. 300 units.
Answer: C
You might also like to view...
Which of the following is the most important source of external financing for corporations?
A) stock market B) bond market C) retained earnings D) mortgages
During a recession, profit-oriented banks would be prone to reduce the money supply by increasing their excess reserves and declining to lend to less creditworthy applicants.
Answer the following statement true (T) or false (F)
According to the "misperception effect" explanation of short-run aggregate supply, firms increase output as the price level rises because they mistake the increase in overall prices for an increase in the relative price of their own output
a. True b. False Indicate whether the statement is true or false
To persist, a monopoly must:
a. be regulated. b. set its price to eliminate the deadweight loss. c. be a natural monopoly. d. be protected by a barrier against the entry of other firms.