Based on the figure above, when the firm maximizes its profit, it produces ________ cans per day
A) 0
B) more than 0 and less than 5
C) 5 or more but less than 10
D) 10
E) more than 10
D
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An example of a market-facilitating legal practice is
(a) clearly established property rights. (b) corruption of government officials. (c) extensive licensing requirements for starting firms. (d) all of the above. (e) none of the above.
Under imperfect competition, a firm's:
a. demand curve lies below its marginal revenue curve. b. demand curve lies above its marginal revenue curve. c. demand curve coincides with its marginal revenue curve. d. demand curve coincides with its marginal cost curve. e. demand curve coincides with its average cost curve.
Assuming the interest rate is 6 percent, which of the following has the greatest present value?
a. $300 paid in two years b. $150 paid in one year plus $140 paid in two years c. $100 paid today plus $100 paid in one year plus $100 paid in two years d. $285 today
Currency held within banks is part of:
A. both the M1 and M2 definitions of the money supply. B. the M2 definition of the money supply only. C. the M1 definition of the money supply only. D. none of these definitions of the money supply.