This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.PriceQuantityTC$500$10.00$501$20.00$502$27.50$503$77.50$504$147.50$505$250.00According to the table shown, when 5 units are produced:
A. the firm is producing less than the profit-maximizing amount.
B. profits are maximized.
C. the firm is producing more than the profit-maximizing amount.
D. profits are positive.
Answer: C
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A skill-biased technological change is likely to:
A) increase the wage of skilled labor. B) increase the wage of unskilled labor. C) decrease the demand for skilled labor. D) increase the marginal productivity of unskilled labor.
Why are music, television, and movie companies concerned about their products being posted to Internet Web sites such as YouTube?
What will be an ideal response?
Capital flows between countries are smaller than in past decades in absolute terms
Indicate whether the statement is true or false
Deflation causes the demand for bonds to ________, the supply of bonds to ________, and bond prices to ________, everything else held constant
A) increase; increase; increase B) increase; decrease; increase C) decrease; increase; increase D) decrease; decrease; increase