Table 11-2
QTRTC89590910293 10110100 11112105 12115110 ?
In Table 11-2, the price at the profit-maximizing output is how much?
A. $15
B. $7
C. $10
D. $11
Answer: D
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Which of the following is a normative statement about economic growth?
A) Economic growth hurts developing countries. B) Economic growth increases GDP per capita. C) Foreign direct investment stimulates economic growth. D) Economic growth is associated with higher labor productivity growth.
In a competitive marketplace, prices adjust until
A) MRS's are equal to zero. B) excess supply equals excess demand equals zero in all markets. C) each consumer has maximized utility subject to his budget constraint. D) all firms earn zero profit.
According to the law of demand, during a given period of time, the quantity of a good demanded
A. Does not change when price changes. B. Increases as its price falls, ceteris paribus. C. Increases as its price rises, ceteris paribus. D. Decreases as its price falls, ceteris paribus.
Innovation can lead to increased productivity.
Answer the following statement true (T) or false (F)