Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $9. What does profit equal when quantity equals 3?
A) $13
B) $10
C) $6
D) $2
C
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If the federal budget goes from a budget deficit in Year 1 to a budget surplus in Year 2, does it follow that the federal government acted to raise taxes or cut government spending in Year 2?
What will be an ideal response?
Which of the following is an example of a price ceiling?
A) the minimum wage B) agricultural price supports C) rent controls D) None of the above is correct.
The Clean Air Act of 1970
a. set up a depletion tax system b. reduced air pollution standards c. recognized air as a resource d. established a system of transferable pollution rights e. forbade producers to emit any pollutants into the air
When a government intentionally lowers the value of its currency, that is called depreciation
a. True b. False Indicate whether the statement is true or false