Refer to the graph shown. If the firm maximizes profit, its daily output will be:
A. 30 units.
B. 45 units.
C. 20 units.
D. 10 units.
Answer: A
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Which of the following statements is true?
A) In cases of auctions and bilateral negotiations, prices tend to approach the competitive equilibrium. B) Bilateral negotiations allow a single buyer and a single seller to privately negotiate with bids and asks. C) In auctions, buyers prefer buying from sellers with the highest ask prices. D) In auctions, sellers prefer selling to buyers with the lowest bid prices.
Nominal GDP uses constant base-year prices to place a value on the economy's production of goods and services, while real GDP uses current prices to place a value on the economy's production of goods and services
a. True b. False Indicate whether the statement is true or false
Lawrence’s country has had three different governments in the last two years. Lawrence knows several people who had their property seized without payment when the new government took over. People are no longer starting businesses or buying buildings because they have no way to guarantee that they will still own them tomorrow. What is the likely result of the situation in Lawrence’s country?
a. The incentive to invest is high. b. The private sector will step in to increase growth. c. The country will have a low rate of economic growth. d. The country will have a high rate of output per capita.
Which of the following is an example of capital?
A. Money B. A bulldozer C. A CD D. A U.S. Savings bond