The figure above shows cost curves for a perfectly competitive firm. If market price is $0.70, a profit-maximizing firm will produce ________ units of output and earn profits of ________.
A. 500, -$50
B. zero, -$450
C. 500, -$450
D. zero, -$400
Answer: D
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Under the Sarbanes-Oxley Act of 2002, the provision that gives more funding to the SEC is an example of
A) regulate for transparency. B) supervisory oversight. C) separation of functions. D) socialization of information production.
Your utility function is given by U = M1/2. What is the expected utility of the following coin toss: heads you win $81, tails you win $100?
A. 0 B. 9.5 C. 19 D. 90.5
Explain why the changes we observe in nominal exchange rates in the short run must be due primarily to changes in the real exchange rate in countries with low inflation.
What will be an ideal response?
Which of the following government programs would be most appropriate to counteract cyclical unemployment?
A. More job training programs. B. Year-round school. C. Increased job placement services. D. Greater government expenditures to increase GDP.