The graph above shows cost curves for a perfectly competitive firm. The firm will break even if price is:
A. $2
B. $3.90
C. $6
D. $5
Answer: B
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According to mainstream macroeconomists, U.S. macro instability has resulted from
A. adherence by the Fed to a monetary rule. B. wide fluctuations in net exports. C. changes in investment spending. D. government's attempts to balance its budget.
If the managers of View Your World, a high-end window manufacturer, spend considerable time researching different prices and quality measures offered by multiple glass firms, the time spent is considered to be a(n) ________ cost.
A) monitoring B) negotiation C) information D) enforcement
Figure 7.2 shows a monopolist's demand curve. The marginal revenue from selling the third unit is:
A. $6. B. $8. C. $10. D. $44.
In an attempt to reduce the poverty rate, there has recently been a movement away from income maintenance programs to
A) Supplemental Security Income programs. B) reducing the age a person can retire at. C) encouraging people to get jobs. D) incorporating the Lorenz policy in decisions.