Refer to Figure 12-4. If the market price is $30 and the firm is producing output, what is the amount of the firm's profit or loss?
A) loss of $1,080 B) loss of $2,520 C) profit of $1,440 D) profit of $1,300
A
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In the table above, what is the government's sector balance?
A) a deficit of $700 billion B) a surplus of $600 billion C) a deficit of $100 billion D) a surplus of #100 billion
The market clearing price of a good is
A) the price at which there is at least some of the good available for everyone. B) the price at which there is no surplus and no shortage. C) the price that consumers prefer. D) the price that producers prefer.
The poverty line fell the most between
A. 1960 and 1968. B. 1968 and 1976. C. 1976 and 1984.
Which of the effects listed below increases the quantity of goods and services demanded when the price level falls and decreases the quantity of goods and services demanded when the price level rises?
a. the wealth effect b. the interest-rate effect c. the exchange-rate effect d. All of the above are correct.