The optimal purchase rule is stated as
A. TU = MU.
B. MU = P.
C. TU = P.
D. MU = 0.
Answer: B
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Refer to the table below. The equilibrium price in this market is:Price PerUnitColumn A UnitsPer YearColumn B UnitsPer Year$2010040$309550$408060$506570$605080
A. nonexistent. B. between $20 and $30. C. between $30 and $40. D. between $40 and $50.
The U.S. economy is the largest in the world. What two factors primarily explain this? What makes the U.S. economy unique?
What will be an ideal response?
A regulation that sets the highest price at which it is legal to trade a good is a
A) production quota. B) price floor. C) price support. D) price ceiling. E) subsidy.
When economic profits are positive, accounting profits could be:
A. positive. B. negative. C. zero. D. All of these are possible.