Refer to the data provided in Table 9.4 below to answer the question(s) that follow.
Table 9.4qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 11004014040 40 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.42Refer to Table 9.4. If the market price is $56 and the firm produces 5 units of output, then its profit would be
A. -$100.
B. -$88.
C. $0.
D. $36.
Answer: C
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The government makes all economic decisions in a mixed economy
Indicate whether the statement is true or false
The most liquid asset(s) of all is (are)
a. cash in the hands of the public b. cash in the hands of banks c. demand deposits held by households and businesses at commercial banks d. travelers' checks e. credit cards
When universities announce a large tuition increase and follow it with an announcement that more financial aid will be available, they are assuming that students who pay full tuition:
A. have elastic demand and students who use financial aid have inelastic demand. B. have inelastic demand and students who use financial aid have elastic demand. C. view a college education as a normal good and students who use financial aid view it as an inferior good. D. view a college education as an inferior good and students who use financial aid view it as a normal good.
An example of an automatic stabilizer is
A. discretionary fiscal policy. B. consumer spending. C. inflation. D. unemployment insurance.