Refer to Table 12-1. If the market price of each camera case is $8 and the firm maximizes profit, what is the amount of the firm's profit or loss?
A) $0 (it breaks even) B) loss of $1,000 C) profit of $440 D) loss of $440
C
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Collective bargaining by unions can result in a union wage rate that is ________ the equilibrium real wage rate and creates a ________ of labor
A) below; shortage B) above; shortage C) below; surplus D) above; surplus E) equal to; surplus
Voting power in the IMF is determined by a country's
A) political power. B) quota. C) size. D) All of the above.
If Jane can produce 3 pairs of shoes per hour, while Bob can produce 2, then ________ has a(n) ________ advantage in producing shoes.
A. Bob; absolute B. Jane; absolute C. Bob; comparative D. Jane; comparative
A goldsmith has 100 gold coins in his safe and 100 receipts circulating. What is his reserve ratio?
What will be an ideal response?