Suppose a monopolistically competitive firm's output where marginal revenue equals marginal cost is 66 units and the price corresponding to this quantity is $18. If the average total cost at this output is $16.55, then its total profit is
A) $1,188. B) $1,092.30. C) $95.70. D) $1.45.
C
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Isabel purchases a $1,000 face value one-year Treasury bill for $934.58, and the next day investors decide they will only buy one-year Treasury bills if they receive an interest rate of 9%
If Isabel decides to sell her Treasury bill to another investor the day after she purchased it, she will A) receive a capital gain of $28.04. B) receive a capital gain of $7.76. C) suffer a capital loss of $18.69. D) suffer a capital loss of $17.15.
Historically, price discrimination was considered illegal in all instances. More recently, antitrust authorities have discovered that
A) price discrimination can increase the coverage of a market thereby increasing welfare. B) price discrimination limits the coverage of a market thereby increasing welfare. C) price discrimination limits the coverage of a market thereby decreasing welfare. D) price discrimination can increase the coverage of a market thereby decreasing welfare.
a schedule or curve that shows the total quantity of output (real GDP) demanded at alternative price levels in a given time period
What will be an ideal response?
Economists focus on the effect of changes in income and prices in influencing actual consumer purchases.
Answer the following statement true (T) or false (F)