Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many belts will Estonia gain compared to the "without trade" numbers?
A) 0 B) 10 C) 40 D) 50
B
Economics
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Suppose that TC = $550, TVC = $500, and MC = $100. If the firm produces 10 units of output, then
A. MC > AVC. B. AVC > MC. C. AVC = MC. D. AFC = AVC.
Economics
List the four broad categories of factors of production
What will be an ideal response?
Economics
How might strict adherence to the Taylor rule discourage demand-pull inflation? How might demand-pull inflation occur, nonetheless?
What will be an ideal response?
Economics
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in producer surplus is
A) 25. B) 5. C) 12.5. D) 20.
Economics