In Figure 20.1, total revenue is maximized at the unit price of
A. $100.
B. $50.
C. $80.
D. $60.
Answer: A
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The figure above shows that the value of the resources used in job-search activity can be as large as ________ per hour
A) $12,000 B) $8,000 C) $6,000 D) $4,000 E) $2,000
An excess supply of money is eliminated by a falling price level
a. True b. False Indicate whether the statement is true or false
The average consumer at a firm with market power has an inverse demand function of P = 10 ? Q. The firm's cost function is C = 2Q. If the firm engages in optimal two-part pricing, it will earn profits of:
A. $32. B. $2. C. $64. D. None of the answers are correct.
Refer to the above figure. The figure represents the saving function for the consumer. Point C represents
A. the amount of autonomous consumption. B. a situation in which saving is positive. C. a situation in which saving is negative. D. the point at which saving equals zero.