Which of the following is a possible cause of an increase in profit from the sale of goods and services?
a. A decrease in the per capita income of consumers
b. A decrease in the price of a substitute good or a service
c. An increase in the availability of raw materials
d. A decrease in the price of a good or service, everything else held constant
e. An increase in the price of a good or service, everything else held constant
e
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Refer to the graph shown. The maximum possible total profit this monopolist that charges only one price can earn is:
A. $240. B. $0. C. $120. D. $60.
In the product market, who is making the payments?
a. households b. firms c. governments d. producers
Which of the following are examples of the gross private domestic investment component of Gross Domestic Product (GDP)?I.The purchase of production equipmentII.An increase in finished goods inventory
A. I only B. II only C. Both I and II D. Neither I nor II
Compared to 1929, total output per person in the U.S. today is approximately ________ times larger.
A. 15 B. 2 C. 25 D. 5