If the price were $10, how much would the firm's output be in the short run?
zero
You might also like to view...
In an open economy, an increase in foreign output would cause the IS curve to shift ________ and a decrease in the foreign real interest rate would cause the IS curve to shift ________
A) down; down B) down; up C) up; down D) up; up
Which of the following statements is false?
A) In 2006, some people with subprime and other nontraditional loans were not able to make their monthly payments on their mortgage loans. B) The leverage ratio is the ratio of assets to capital. C) John Taylor argued that the global savings glut was the reason for the low interest rates in the early-2000s and for the rise in housing prices that followed. D) It is possible for a bank to have the value of its liabilities greater than the value of its assets. E) none of the above
Based on the table showing income inequality in the United States, from 1950 to 1980, the distribution of income in the United States ______.
a. changed erratically
b. remained more or less stable
c. dramatically shifted to favor lower earners
d. dramatically shifted to favor higher earners
Suppose the U.S. Congress is considering passing an excise tax that would increase the price of a pack of cigarettes by $1.00. What would be the likely effect of this change on the demand and supply of cigarettes? What is likely to happen to cigarette
prices and the quantity consumed if the tax bill is enacted? Please provide the best answer for the statement.