A firm sells 1000 units per week. It charges $15 per unit, the average variable costs are $10, and the average costs are $25 . At what price does the firm consider shutting-down in the long run?
a. $25
b. $0
c. $15
d. $10
a
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Refer to the above figure. At a price of $2 per gallon, there is
A) a surplus of 20,000 gallons per month. B) a shortage of 40,000 gallons per month. C) a shortage of 80,000 gallons per month. D) a shortage of 60,000 gallons per month.
If the loanable funds market pays 8 percent and you want to earn $1,000 a year of interest income, how much in loanable funds must you supply to the market in order to accomplish this?
a. $8,000 b. $10,000 c. $14,000 d. $12,500 e. $18,000
Thanks to randomized controlled trials, policymakers and program managers can:
A. more confidently channel resources to approaches that are cost effective. B. more confidently channel resources to approaches that work. C. have at least some evidence that the programs chosen are better than others. D. All of these statements are true.
Country A can product 100 units of Good X in a day and 40 units of Good Y while Country B can produce 50 units of Good X and 40 units of Good Y.
A. These countries should trade since Country B has a comparative advantage in the production of Good X and Country A has a comparative advantage in the production of Good Y. B. These countries should trade since Country A has a comparative advantage in the production of Good X and Country B has a comparative advantage in the production of Good Y. C. These countries will not trade since Country A has a comparative advantage in the production of both goods. D. These countries will not trade since Country A will always be able to take advantage of Country B.