Exhibit 8-13 Price and cost per unit curves
In Exhibit 8-13, the firm's short-run supply curve is the marginal cost curve above point
A. A.
B. B.
C. C.
D. D.
Answer: B
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Donnie's Donuts incurs $450,000 per year in explicit costs and $200,000 in implicit costs. The bakery earns $800,000 in revenues and has $2 million in net worth. Based on this information, what is the economic profit for Donnie's Donuts?
A) $150,000 B) $350,000 C) $600,000 D) $1.2 million
Coffee and donuts are complements in consumption. Suppose bad weather in the coffee producing regions of the world, which shifts the coffee supply curve leftward
How do the general equilibrium price and quantity outcomes compare to the partial equilibrium outcomes for this situation? A) General equilibrium price and quantity are higher B) General equilibrium price is higher and quantity is lower C) General equilibrium price is lower and quantity is higher D) General equilibrium price and quantity are lower
In 2007, the value of the U.S. dollar
A. increased relative to the euro. B. decreased relative to the euro. C. remained stable relative to the euro. D. was equal to the value of the euro.
Suppose you have $400 and the inflation rate is 5 percent. In order to earn a real return of $16 on your investment, the nominal interest rate needs to be near
A) 0 percent. B) 4 percent. C) 6 percent. D) 9 percent.