In the above figure, at what price does a perfectly competitive firm make zero economic profit?
A) $4 per unit
B) $8 per unit
C) $12 per unit
D) $16 per unit
C
You might also like to view...
Which of the following is not a Eurocurrency claim?
A) A U.S.-dollar deposit by a London firm in a Cleveland bank B) A sterling deposit by a London firm in a New York bank C) A U.S.-dollar deposit by a London firm in a London bank D) A Yen deposit by a New York firm in a London bank
All of the following can cause conflict between divisions EXCEPT
a. Divisional managers are rewarded on the profitability of the firm, instead of profitability of the division b. managers of profit centers care too little about the effects of their decisions on other divisions c. managers are rewarded only for how much profit their division generates d. corporate executives cannot tell when one divisional manager's decisions are appropriate or not
When people by insurance they often adopt risky behavior. This is an example of
A) adverse selection. B) moral hazard. C) a negative externality. D) moral hazard and a negative externality.
Think of the quantity theory of money: If V = 5, P = 100, and Q = 10, then M is
a. 20 b. 10 c. 500 d. 1,000 e. 200