Refer to the information provided in Figure 8.9 below to answer the question(s) that follow. 
Figure 8.9
Refer to Figure 8.9. At the market price of $18 per bale, if this farmer produces the profit-maximizing level of hay, the total revenue would be
A. $1,200.
B. $2,800.
C. $5,600.
D. $6,300.
Answer: D
Economics
You might also like to view...
The quantity of money demanded will decrease if the
A) nominal interest rate decreases. B) price level rises. C) real interest rate decreases. D) inflation rate decreases. E) nominal interest rate increases.
Economics
Production involving a positive externality is inefficient
a. True b. False
Economics
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.
Economics
Other things being equal, if energy prices rise in a country, then there would be
A. demand-pull inflation. B. more production and a lower price level. C. cost-push deflation. D. cost-push inflation.
Economics