The expected-profit-maximization rule sets ________ equal to ________ and is an ________
A) marginal revenue; expected marginal cost; operational guideline
B) expected marginal revenue; expected marginal cost; operational guideline
C) expected marginal revenue; marginal cost; operational guideline
D) marginal revenue; marginal cost; easily obtainable goal
B) expected marginal revenue; expected marginal cost; operational guideline
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Suppose the government has a $1.2 trillion budget deficit. If the government borrows $1.2 trillion to finance this deficit and finances the rest by printing money, the amount of new money created will be
A) $0. B) $600 billion. C) $1.2 trillion. D) $2.4 trillion.
Refer to Figure 13-8. At the profit-maximizing output level the firm will
A) earn a profit of $60. B) break even. C) earn a profit of $176. D) earn a profit of $88.
If V were 8, P = 4, and M = 700, how much would Q be?
What will be an ideal response?
Refer to Scenario 9.6 below to answer the question(s) that follow. SCENARIO 9.6: Celeste borrowed $40,000 from her brother to open a car wash. She pays her brother a 5% yearly return on the money he lent her. Her other yearly fixed costs equal $18,000. Her variable costs equal $40,000. In her first year, Amy sold 40,000 car washes at a price of $2.50 per car wash.Refer to Scenario 9.6. Celeste's profit is
A. $0. B. $20,000. C. $30,000. D. $40,000.