Refer to the below tables. What will the maximum total profits be?
Assume that the short-run cost and demand data given in the tables below confront a monopolistic competitor selling a given product and engaged in a given amount of product promotion.
A. $65
B. $85
C. $90
D. $110
C. $90
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The Harvard experiment found the answer to "Why is private health insurance so expensive?" is:
A) adverse selection - healthier patients don't want expensive coverage. B) adverse selection - poorer patients want more free health care. C) adverse selection - Harvard employees wanted more extensive coverage. D) adverse selection - health care subsidies resulted in unhealthy patients wanting more coverage.
In the figure above, assuming that the firm does not shut down, the firm will produce
A) fewer than 19 units. B) 20 units. C) 30 units. D) 40 units.
If the economy is initially at equilibrium and an unexpected decline in aggregate demand takes place, in the short run aggregate output will
A) fall in the new classical view, but not in the new Keynesian view. B) fall in the new Keynesian view, but not in the new classical view. C) fall in both the new Keynesian and new classical views. D) remain at full employment in both the new classical and new Keynesian views.
In what way are the 12 Federal Reserve Banks considered “quasi-banks”?
What will be an ideal response?