A profit-maximizing producer seeks to
A. Minimize average total costs.
B. Maximize profit per unit.
C. Minimize marginal cost.
D. Maximize total profit.
Answer: D
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If consumption expenditures are $200 billion, total investment is $50 billion, government purchases are $40 billion, exports are $45 billion, imports are $40 billion, aggregate expenditures must be:
a. $275 billion. b. $295 billion. c. $320 billion. d. $395 billion.
The World Bank was created to help finance economic development in poor countries
a. True b. False Indicate whether the statement is true or false
A profit-maximizing, monopolistically competitive car wash washes 40 cars per day, and its total cost $200 and currently makes an economic profit of $280. In the long run, everything else equal, the
A. car wash will charge more than $12 per wash. B. car wash will wash more than 50 cars per day. C. car wash will need to hire new workers to wash more cars. D. car wash will wash less than 40 cars per day.
Figure 4-7
Refer to . The supply curve S1 and the demand curve D indicate initial conditions in the market for gasoline. A $.60-per-gallon excise tax on gasoline is levied, which shifts the supply curve from S1 to S2. Imposing the tax causes the equilibrium price of gasoline to increase from
a.
$.80 to $1.40.
b.
$.80 to $1.50.
c.
$.90 to $1.50.
d.
$.90 to $1.40.