Refer to Figure 12-2. What is the amount of profit if the firm produces Q2 units?
A) It is equal to the vertical distance c to g multiplied by Q2 units.
B) It is equal to the vertical distance g to Q2.
C) It is equal to the vertical distance c to Q2.
D) It is equal to the vertical distance c to g.
D
You might also like to view...
If the dollar depreciates, it can be said that
A. foreign countries no longer respect the United States. B. it falls in value within the United States. C. it takes fewer dollars to buy foreign currencies. D. other currencies appreciate.
What is a convertible currency?
What will be an ideal response?
The U.S. did not lapse back into a depression after World War II ended for all of the following reasons EXCEPT
A. a larger role taken on by the federal government. B. pent up demand for housing and automobiles. C. government programs that aided the trend toward suburbanization. D. a return to laissez-faire economic policies.
A increase in demand coupled with a simultaneous and bigger decrease in supply will cause equilibrium:
A. Price to go up and quantity to go down B. Price to go up and quantity to go up C. Price to go down and quantity to go down D. Price to go down and quantity to go up