Refer to the table above. If the rental price of machines is $100 per day, up to how many machines should the firm rent to maximize profits?
A) 4
B) 5
C) 6
D) 7
B
You might also like to view...
Every luxury good is a normal good but not every normal good is a luxury.
Answer the following statement true (T) or false (F)
The sum of the marginal propensity to consume (MPC) and the marginal propensity to save (MPS) always equals:
a. 1. b. 0. c. the interest rate. d. the marginal propensity to invest (MPI).
A couple is considering moving to Tampa from Chicago. The cost of moving for Crystal is $300 while the cost of moving for Amelia is $600. Crystal earns $500 in Chicago and $550 in Tampa. Amelia earns $200 in Chicago and $1000 in Tampa. Will they move as a couple?
A. Yes, because the joint cost of moving ($900) exceeds what they could earn in Chicago ($700). B. No, because neither person would choose to move to Tampa on their own. C. Yes, because they receive a net gain of $150 by moving to Tampa. D. No, because they would lose $50 by moving to Tampa when all benefits and costs are considered. E. Yes, because they would earn $1,550 in Tampa but only $700 in Chicago.
Expectations of inflation are assumed to be constant at each point on a given short-run Phillips curve.
Answer the following statement true (T) or false (F)