A firm receives $10 per unit at an equilibrium level of output of 80 units. The average total cost at 80 units of output is $8 . The firm makes a total economic profit of:
a. $120.
b. $160.
c. $100
d. $80
b
You might also like to view...
Moving rightward along a straight line, the slope of the line
A) always increases. B) always decreases. C) stays the same. D) increases if the line slopes upward to the right. E) decreases if the line slopes downward to the right.
The productivity of American workers reflects all of the following EXCEPT:
A.) Capital intensity of the production process. B.)Investment in human capital. C.) High quality of capital. D.) Scarcity of plant and equipment.
For this question, assume that expectations of productivity growth adjust slowly. Now, suppose that there is a 3% reduction in productivity. Explain how this 3% reduction in productivity can cause changes in the unemployment rate
What will be an ideal response?
Which if the following is the best example of derived demand?
A. The demand for movie theater ushers increases when more consumers choose to go to movie theaters. B. More peanut butter is demanded as the price of strawberry jam falls. C. When the price of Honda Accords increased, the demand for Nissan Altimas went up. D. Janice got a Samsung Galaxy Tab for her birthday, and now her best friend Tamika wants one for her birthday.