If this firm were a perfect competitor, at what output would it produce in the long run?
A. 40 units
B. 50 units
C. 60 units
D. 70 units
B. 50 units
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If the dollar falls from 1.25 euros to 1.00 euro, then the dollar has ________ and the euro has ________
A) depreciated; depreciated B) depreciated; appreciated C) appreciated; appreciated D) shrunk; grown E) appreciated; depreciated
Which of the following is true about how the "invisible hand" influences economic activity through prices when a product has lower demand than supply?
a. The price must decrease, causing more buyers to buy and less sellers to sell. b. The price must decrease, causing more buyers to buy and more sellers to sell. c. The price must increase, causing less buyers to buy and more sellers to sell. d. The price must increase, causing less buyers to buy and less sellers to sell.
In order to maintain high prices, a cartel must get its members to
A. develop new sources. B. leave production unchanged. C. reduce production. D. increase production.
Under what conditions will the official measure of the budget deficit be greater than, less than, or equal to the correct measure of the budget deficit
What will be an ideal response?