Refer to the data provided in Table 9.3 below to answer the following question(s).
Table 9.3qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 1100401404040 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.43Refer to Table 9.3. If the market price is $84, then this firm will maximize profits by producing ________ unit(s) of output and its profits will be ________.
A. seven; $116
B. five; $140
C. six; $140
D. six; $240
Answer: C
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Suppose the economy is in long-run and short-run equilibrium. The Fed changes its policy by raising the difference between the discount rate and the federal funds rate. In the long run we would expect to observe
A) a higher real national income. B) a lower real national income. C) a higher price level. D) a lower price level.
Redistribution can be thought of as insurance because _____
a. those with low incomes often do not think of purchasing insurance b. those with low incomes cannot afford insurance c. individuals want to protect themselves from the small probability that they might become impoverished d. a and b
Persistent negative current account balances will lead to ____
a. c and d b. d and e c. budget deficits d. appreciation of foreign currency e. depreciation of domestic currency
Exhibit 2.2 shows that healthcare spending rose from 12.5% in 2000
A. to 21.5% in 2016. B. to 17.2% in 2016. C. to 13.8% in 2016. D. to 12.8% in 2016.