Refer to the information provided in Figure 16.2 below to answer the question(s) that follow.
Figure 16.2Refer to Figure 16.2. What is the total damage imposed as a result of producing the market (unregulated) level of cars?
A. $250
B. $350
C. $500
D. $700
Answer: B
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The figure above shows a perfectly competitive firm. The firm is operating; that is, the firm has not shut down. The firm is
A) making an economic profit of $200. B) incurring a economic loss of $200. C) incurring an economic loss of $600. D) making zero economic profit.
In the swimming pool market, supply and producer surplus both just fell. What most likely happened to cause this?
a. Price levels increased. b. Price levels decreased. c. A subsidy was given. d. A tax was removed.
The In The News article "Tesla Banks on Gigafactory" says that
A. The new plant will likely result in diseconomies of scale. B. The plan to build a gigafactory is a short-run production decision. C. The investment will be a variable expense. D. Teslas plan is a long-run production decision, and the company plans to enjoy economies of scale.
When the unemployment rate is below the natural rate of unemployment,
What will be an ideal response?