Consider a firm operating in a competitive market. The firm is producing 40 units of output, has an average total cost of production equal to $6, and is earning $240 economic profit in the short run. What is the current market price?
a. $0
b. $6
c. $10
d. $12
d
Economics
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Refer to Table 15-4. What is Shakti's profit-maximizing output?
A) 4 units B) 5 units C) 6 units D) 7 units
Economics
The consumer wants to work because he/she
A) is told to work. B) likes to work. C) likes leisure. D) wants the income.
Economics
Investors must rely on stockbrokers to give detailed, day-to-day reports on stocks and bonds.
Answer the following statement true (T) or false (F)
Economics
Refer to the above figure. The profit-maximizing price and output for this monopolist are
A) a price of P1 and output of Q1. B) a price of P4 and output of Q1. C) a price of P2 and output of Q2. D) a price of P3 and output of Q3.
Economics