Refer to the accompanying figure.
Based on the figure, when PAE = 600 + 0.5Y, short-run equilibrium output equals:
A. 600.
B. 400.
C. 800.
D. 1,200.
Answer: D
You might also like to view...
Refer to Scenario 14.1. Lisette's dominant strategy will give her a net benefit of
A) $45. B) $75. C) $120. D) $150.
If at an output of 4,000 units Sloan Company is making an economic profit and marginal profit is $20 per unit, the firm should
a. reduce output to maximize total profit. b. increase output until marginal profit falls to zero. c. do whatever is necessary to increase marginal profit. d. There is not enough information to make a decision.
If the economy is suffering a recession, inventories are probably falling
a. True b. False Indicate whether the statement is true or false
If a person wanted to raise some capital and was unable to borrow it, they could either ________ or _________.
Fill in the blank(s) with the appropriate word(s).