According to the graph shown, producing 14 units:
A. is not as profitable as producing 11 units.
B. will earn negative profits.
C. will earn more profits than producing 9 or 11 units.
D. will earn zero profit.
A. is not as profitable as producing 11 units.
You might also like to view...
On the long-run aggregate supply curve
A) an increase in the price level reduces the aggregate quantity of GDP supplied. B) an increase in the price level has no effect on the aggregate quantity of GDP supplied. C) an increase in the price level increases the level of potential GDP. D) an increase in the price level increases the aggregate quantity of GDP supplied.
Adding value means
A) to make products that have positive prices. B) that the value of a firms output is greater than the value of the output that was not produced by the inputs the firm employs. C) that the firm has a positive economic profit. D) that economic profit is zero.
Over a period of time both the price and the quantity sold of a certain product have increased. One possible explanation might be that:
a. Supply decreased over time, while demand remained the same b. Demand increased over time, while supply remained the same c. Supply increased over time, while demand remained the same d. Supply increased over time, while demand declined
Some people believe that employees should be paid the same wages when their jobs, although different, require similar levels of education, training, experience, and responsibility. This principle is known as:
A. the equal-pay-for-equal work doctrine. B. Lorenz equivalence. C. marginal productivity theory. D. comparable worth.