Refer to the data provided in Table 9.2 below to answer the question(s) that follow.
Table 9.2
Refer to Table 9.2. If the market price is $28 and the firm produces 5 units of output, then its profit would be
A. -$50.
B. -$44.
C. $0.
D. $18.
Answer: C
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While increases in population are often seen as a problem by some observers can you think of a way in which an increase in population can be a positive factor?
What will be an ideal response?
Refer to Figure 17-4. Which of the following is true at W0?
A) The substitution effect is larger than the income effect. B) The income effect and the substitution effect are equal. C) The income effect is larger than the substitution effect. D) The supply curve is positively sloped.
Per capita GDP can be defined as
a. GDP per working person. b. GDP per unit of capital. c. GDP per person. d. GDP per unit of unemployment.
If a farmer buys one-hundred more acres for her flower farm, she is making a
A. short-run decision. B. long-run decision. C. immediate-run decision. D. variable-input decision.