Refer to the above table. The market quantity supplied when the price is $7 is
A) 0.
B) 20.
C) 29.
D) 38.
C
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Which of the followings statements is true?
A) The amount of capital accumulation will be higher if the capital stock of last year was low. B) The amount of depreciation will be lower if the investment on capital last year was high. C) The amount of capital accumulation will be higher if the capital stock of last year was high. D) The amount of depreciation will be higher if the investment amount on capital last year was low.
A firm is currently producing1140 units of output according to the production function q = L4/3K1/2 and faces input prices equal to w = $20 and r = $80. In the short run, capital is fixed at 5 units. In the long run, the firm's costs are
A) lower because the firm substitutes towards more labor and away from capital. B) lower because the firm substitutes towards more capital and away from labor. C) higher because the firm substitutes towards more labor and away from capital. D) higher because the firm substitutes towards more capital and away from labor.
What consumer surplus is received by someone whose willingness to pay is $35 below the market price of a good?
A. $35 B. $0 C. ($35 x P*) D. None of these is correct.
Another term for what the text calls the "target rate of unemployment" is:
A. real unemployment. B. nominal unemployment. C. the natural rate of unemployment. D. Keynesian unemployment.