The price charged by this profit-maximizing firm is ___ and its output is ___ (assume marginal cost is MC1).
A. $45; 9
B. $45; 11
C. $65; 9
D. $65; 11
C. $65; 9
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The long-run equilibrium for a perfectly competitive firm occurs at the minimum point of the ________
A) total fixed cost curve B) average fixed cost curve C) average total cost curve D) marginal cost curve
Suppose that the current price of oil is $60 per barrel and the quantity sold is 90 million barrels per day
The current estimates of the price elasticity of supply and demand are ? = 1 and ? = -.2 respectively. What will be the effects on the market price and quantity if the U.S. government suddenly decides to purchase an additional 2 million barrels of oil? Assume that the supply and demand curves are linear and the addition consumption of oil by the government results in a parallel shift of the supply curve to the left by 2 million barrels per day.
The F/M earnings ratio for full-time workers
a. has been steadily declining. b. has been roughly constant since 1980. c. has increased significantly since 1980. d. increased until 1980, but it has declined steadily during the last two decades.
Explain why in practice policy coordination is hard to achieve
What will be an ideal response?