The following question relate to a community that is circular in nature with a one mile circumference. There are 81 people evenly distributed around the lake where the town is built. The travel cost is $10 per mile, a restaurant costs $100 to set up, and the cost per meal is $2. If the town projected a total population of 180 by the end of the decade, how many restaurants would the city planners project as optimal for the end of the decade? Round off small residuals to the nearest whole number.
What will be an ideal response?
By inserting 180 into the formula used in number 15 above N* comes out to 3.
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Inequality is often the result of higher levels of work and productivity
a. True b. False
If Cuba’s population grows faster than its output, its per capita output will ______.
a. rise b. fall c. remain the same d. rise then fall
During a severe recession, appropriate economic policy might include
A. An open market purchase by the Fed, a decrease in the tax rates, or a decrease in the budget deficit. B. An open market purchase by the Fed, a decrease in the discount rate, or a decrease in government regulation. C. An open market sale by the Fed, a decrease in the discount rate, or an increase in the budget deficit. D. A decrease in government spending, a decrease in the discount rate, or a decrease in government regulation.
Given the information in the graph above, how much profit does this monopolistic competitor make?
