Suppose total benefits and total costs are given by B(Y) = 600Y ? 12Y2 and C(Y) = 20Y2. What is the maximum level of net benefits?
A. 1916.4
B. 2,500.75
C. 2,812.5
D. None of the statements associated with this question are correct.
Answer: C
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The above figure shows a motel engaged in monopolistic competition with other motels. The equilibrium quantity at this motel is ________ rooms per day
A) 200 B) 300 C) 400 D) 500 E) 100
In one northern town, the snowmobilers enjoy snow while non-snowmobilers hate it. When the town gets two feet of fresh snow, which group is made wealthier?
A) Non-snowmobilers B) Snowmobilers C) Everybody D) Nobody
When decisions are made by majority rule, elected officials have a strong incentive to
What will be an ideal response?
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.