Refer to the below table for a profit-maximizing firm. The price of the firm's product is $10 per unit and the wage rate is a constant $110 a day. How many workers will the firm hire, assuming purely competitive product and resource markets?
A. 4
B. 5
C. 6
D. 7
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How does the effect of changes in foreign demand compare to the effect of changes in the foreign exchange rate?
a. Changes in foreign demand cause a shift in the aggregate demand curve, whereas changes in the foreign exchange rate cause movement along the curve. b. Changes in foreign demand shift the aggregate demand curve rightward, whereas changes in the foreign exchange rate shift the curve leftward. c. Changes in foreign demand cause movement along the aggregate demand curve, whereas changes in the foreign exchange rate cause curve shifts. d. Changes in foreign demand and changes in the foreign exchange rate can both shift the aggregate demand curve.
Refer to the data provided in Table 10.1 below to answer the following question(s).
Table 10.1 
Refer to Table 10.1. The marginal revenue product of the third worker is
A. $5. B. $25. C. $125. D. $375.
A firm earns a profit if
A. price equals marginal cost. B. total revenue equals total fixed costs. C. total revenue exceeds the total cost of production. D. price is less than the total cost of production.
Briefly explain how changes in business taxes would affect aggregate demand. Give an example.
What will be an ideal response?