In the above figure, the long-run equilibrium price level is
A. 130.
B. 110.
C. 150.
D. not displayed.
Answer: A
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Refer to the production possibilities curves below. Curve (a) is the initial curve for the economy. If the economy's production possibilities then shift to curve (b), then:
A. Point N would still indicate a case of full production and full employment of resources
B. Point P would still indicate a case of full production and full employment of resources
C. Point N would indicate some unemployment or underemployment of resources
D. Point L would indicate some unemployment or underemployment of resources
You own a local sub shop in a college town. You primarily serve two groups of people: local residents (both students and other local residents) and visitors to your town. Devise a price discrimination strategy that will increase your revenues compared to a single-pricing strategy.
What will be an ideal response?
Explain why using a firm's profits to reinvest in the company is really not "free borrowing"?
What will be an ideal response?
The income that people earn is called
a. national income b. personal income c. disposable personal income d. transfer payments e. net national product