Refer to the information provided in Figure 8.9 below to answer the question(s) that follow. 
Figure 8.9
Refer to Figure 8.9. This farmer's ________ level of output is 500 units of output.
A. loss-minimizing
B. profit-maximizing
C. break-even
D. shut-down
Answer: B
You might also like to view...
The income elasticity of demand for used cars is less than zero, so used cars are
A) an inferior good. B) a normal good. C) an inelastic good. D) a perfectly inelastic good. E) a substitute good.
A free trade area differs from a customs union in that
a. in a free trade area, members can establish their own tariff policies with respect to nonmembers b. in a free trade area, the rules are binding on members, but in a customs union they are mere guidelines c. a free trade area strives for low tariffs, but a customs union strives for high tariffs d. a free trade area uses a standardized currency, but in a customs union each nation retains its own currency e. the rules of a free trade area only apply to trade with nonmembers, but in a customs union the rules apply only to trade with members
To increase living standards, public policy should
a. ensure that workers are well educated and have the necessary tools and technology. b. make unemployment benefits more generous. c. move workers into jobs directly from high school. d. ensure a greater degree of equality, taking all income-earners into account.
World commodity prices over the past 150 years have:
A. steadily decreased in both the short run and long run. B. decreased in the long run despite occasional short-run increases. C. remained constant in the long run despite occasional short-run fluctuations. D. steadily increased in both the short run and long run.