Refer to the below table for a profit-maximizing firm. The price of the firm's product is $10 per unit and the wage rate is a constant $110 a day. How many workers will the firm hire, assuming purely competitive product and resource markets?
A. 4
B. 5
C. 6
D. 7
C. 6
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When banks calculate the losses the institution would incur if an unusual combination of bad events happened, the bank is using the ________ approach
A) stress-test B) value-at-risk C) trading-loss D) maximum value
With full information, any contract will lead to production efficiency
Indicate whether the statement is true or false
If different markets for a product produced by a monopolist can be separated and if the elasticity of demand differs between the two markets, then the monopolist will
A. go out of business. B. charge a single price in all markets. C. sell the product in only one of the markets with inelastic demand curves. D. be able to make higher profits by using price discrimination.
Refer to the data. The average total cost of five units of output is:
A. $69.
B. $78.
C. $3.
D. $10.