In the above figure, if the price is $8 per unit, how many units will a profit maximizing perfectly competitive firm produce?
A) 5
B) 20
C) 30
D) 35
B
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Following a major natural disaster that destroys housing, a rent ceiling ________ be an effective policy to increase the quantity of more affordable housing for displaced residents because it would ________
A) would not; discourage rebuilding and result in a shortage B) would not; cause the quantity supplied to exceed the quantity demanded C) would; cause increased search activity D) would; create a black market that would result in a lower rent E) would; encourage a greater quantity supplied
The entry of new firms into a perfectly competitive market will cause:
A) both the equilibrium price and quantity to increase. B) both the equilibrium price and quantity to decrease. C) the equilibrium price to increase but the equilibrium quantity to decrease. D) the equilibrium price to decrease but the equilibrium quantity to increase.
The real rate of interest equals 5% and the expected rate of inflation equals 2%. The nominal rate of interest equals
A) 2%. B) 3%. C) 5%. D) 7%.
The Toxics Release Inventory (TRI)
a. is a national database providing information about hazardous releases b. provides information on hazardous substances solely to government officials c. is no longer maintained and reported to the public d. provides an annual list of the parties responsible for hazardous releases