Exhibit 7-3 Cost per unit curves
?

As shown in Exhibit 7-3, the firm will produce in the short run if the price is at least equal to:

A. $1.00 per unit (point A).
B. $1.50 per unit (point B).
C. $2.00 per unit (point C).
D. $4.00 per unit (point D).


Answer: B

Economics

You might also like to view...

Borrowed funds that are to be repaid in a year or more are referred to as:

A) long-term debt. B) loanable funds. C) annual debt. D) stockholders' equity.

Economics

Suppose the current level of output is 5000 and the elasticity of output with respect to labor is 0.7. A 10% increase in labor would increase the current level of output to

A) 5035. B) 5070. C) 5350. D) 5700.

Economics

Wealth is redistributed from creditors to debtors when inflation was expected to be

a. high and it turns out to be high. b. low and it turns out to be low. c. low and it turns out to be high. d. high and it turns out to be low.

Economics

Which of the following would cause an increase in quantity of wheat supplied?

A. The price farmers receive for their wheat rises B. The price firms pay for liability insurance falls C. New, better technology for farming is introduced D. The price of fertilizer farmers use in their fields falls

Economics