The maximum units of input you would possibly hire is
A. 2.
B. 3.
C. 4.
D. 5.
D. 5.
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Use the following table, which shows the supply and demand schedules for the euro, to answer the next question.Quantity of Euros SuppliedPriceQuantity of Euros Demanded400$1.101003601.002003000.903002860.804002670.70500Under a flexible exchange rate system, what will be the rate of exchange for one euro?
A. $0.80 B. $1.00 C. $0.90 D. $1.10
How do new Keynesians use menu costs to help explain price stickiness in the short run?
What will be an ideal response?
Suppose that firms are located in a circle on an island. You are given transportation costs, fixed costs, variable costs, and demand (assume that customers are spread evenly along the circle). As the firm's fixed costs increase,
A. the number of firms will fall in the long run. B. the number of firms will stay the same in the long run. C. the number of firms will rise in the long run. D. It is impossible to tell from the information given.
If a firm equates MR and MC, then:
A. TR is at a maximum, and TC is at a minimum. B. output is at a maximum. C. both TR and TC are at a maximum. D. profits are at a maximum or losses are at a minimum.