Suppose TC = 10 + (0.1 ? q2). If p = 10, the firm's profit-maximizing level of output is
A) 40.
B) 50.
C) 60.
D) 0, since the firm will shut down.
B
Economics
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When the opportunity cost of producing more of a good is increasing, the marginal cost of producing more of the good is
A) decreasing. B) constant. C) increasing. D) More information is needed to answer the question.
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Which of the following is an objective of macroeconomic stabilization?
(a) eliminating current account deficits. (b) controlling inflation. (c) restoring fiscal balance. (d) all of the above.
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In the above figure, total cost for this profit-maximizing monopolistically competitive firm is
A) $91,000. B) $50,000. C) $70,000. D) $72,000.
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If price elasticity of supply is less than 1
A) supply is elastic. B) demand is elastic. C) demand is inelastic. D) supply is inelastic.
Economics