In the above figure, at which output level is this firm earning negative economic profits?
A. 10
B. 5
C. 12
D. 2
Answer: D
You might also like to view...
Refer to Table 19-13. Real GDP for Vicuna for 2013 using 2015 as the base year equals
A) $4,620. B) $5,100. C) $5,650. D) $5,850.
If the price of imported inputs suddenly rises,
a) we buy less, so aggregate demand falls b) we pay more for the same quantity, so aggregate demand rises c) we substitute domestic sources of inputs, so aggregate demand rises d) our ability to produce is reduced, so aggregate supply shifts inward e) GDP in unaffected because imports are netted out of gross domestic product
Income inequalities are greatest in
A. Poor countries. B. Highly developed countries. C. Countries with many factors of production. D. Rich countries.
From the earlier 1990s until 2012, the Japanese monetary was ________ and stock and real estate prices were ________
A) tight; rising. B) easy; rising. C) tight; falling. D) easy; falling.