Refer to the information provided in Figure 15.6 below to answer the question(s) that follow.
Figure 15.6Refer to Figure 15.6. If Trollio's T-shirts is producing 50 silk-screened T-shirts and selling each T-shirt at $16, then in the long run this firm should
A. continue to produce 50 silk-screened T-shirts and sell each T-shirt for $16.
B. exit the industry, as it is earning a zero economic profit.
C. reduce output to try to increase profits.
D. increase output to 60 silk-screened T-shirts.
Answer: A
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Which of the following involves payment of part of the face value or principal prior to maturity?
A) fixed-payment loan B) coupon bond C) discount bond D) simple loan
What causes structural unemployment?
a. workers searching for suitable jobs and firms looking for suitable workers b. the persistent mismatch of workers’ skills and the requirements of jobs c. short-term cyclical fluctuations in the economy d. short-term seasonal fluctuations in the job market
____ is defined as the value of a households assists minus the value of its liabilities
Fill in the blank(s) with the appropriate word(s).
Refer to Scenario 3.2 below to answer the question(s) that follow.SCENARIO 3.2: Lettuce and spinach are substitutes. Lettuce and tomatoes are complements. Lettuce is a normal good. During the winter, about 20% of the lettuce crop was destroyed by flooding.Refer to Scenario 3.2. As a result of the flooding during the winter, you would expect that
A. the price of lettuce would increase and both the quantity of lettuce supplied and the quantity of lettuce demanded would increase. B. the price of lettuce would increase, the supply of lettuce would increase, and the quantity demanded of lettuce would decrease. C. the supply of lettuce would decrease, the price of lettuce would increase, and the demand for lettuce would decrease. D. the supply of lettuce would decrease, the price of lettuce would increase, and the quantity demanded of lettuce would decrease.