Refer to the above figure. Profits for this firm are equal to zero
A. only for all points less than B.
B. for points between B and C.
C. for all points less than B and greater than C.
D. only at points B and C.
Answer: D
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The resource based view locates the source of advantage at the
a. Individual firm level b. Industry level c. Both a and b d. None of the above
A realistic production possibilities curve:
A. is concave while a simple PPF has constant opportunity costs. B. is straight lined while a simple PPFhas constant opportunity costs. C. is straight lined while a simple PPF is bowed outward. D. is concave while a simple PPFhas increasing opportunity costs.
Which of the following is a measure taken by the government to internalize externalities?
a. Value Added Tax b. Income Tax c. Cap and trade d. Tariffs e. Deficit financing
If the growth rate for GDP was 5 percent and GDP in year 1 was 140, then GDP in year 2 would be
A) 133.3. B) 135. C) 145. D) 147.