OutputMarginal RevenueMarginal Cost0----1$16$142169316154162151628Refer to the above data. If the firm's minimum average variable cost is $10, the firm's profit-maximizing level of output would be:
A. 5.
B. 4.
C. 2.
D. 3.
Answer: D
You might also like to view...
For countries with high seigniorage returns, we expect
A) PPP holding better. B) a high and variable inflation rate. C) a smaller role for their currencies as an international store of value. D) All of the above.
The combination of rising inflation and higher unemployment is called:
A) recession. B) expansion. C) stagflation. D) deflation.
Two heavy equipment manufacturers might collude in an effort to do all of the following except one. Which is the exception?
a. determine a more advantageous price and quantity b. prevent new entry into the market c. take advantage of the legal benefits that U.S. cartels receive d. increase their combined profits e. predict the behavior of other competitors in the heavy equipment market with greater certainty
Which of the following statements is true about bonds?
A) Sellers of newly issued bonds are borrowers. B) When the government and large corporations want to borrow money they buy bonds. C) A bond owner must hold a bond until it matures. D) The interest rate on a bond is directly related to its price.