Suppose the supply of good X is given by QSx = 10 + 2Px. How many units of good X are produced if the price of good X is 20?
A. 30.
B. 20.
C. 10.
D. None of the statements associated with this question are correct.
Answer: D
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Refer to the table above. What is the marginal benefit that Jenny derives from the second unit of chocolate?
A) $0 B) $8 C) $9 D) $18
What is the primary threat of monopoly and oligopoly to the public interest?
a. Cartels b. Predatory pricing c. Price wars d. Monopoly power
Taxable Income Taxes $0 - $23,000 17% of taxable income $23,001 - $42,000 $3,900 + 20% of everything over $23,000 $42,001 - $100,000 $7,710 + 30% of everything over $42,000 Greater than $100,000 $25,110 + 33% of everything over $100,000 Refer to Exhibit 11-4. If a person’s taxable income is $30,000, how much does he pay in taxes?
a. $6,000 b. $1,400 c. $5,300 d. $4,85011-9
Graphically illustrate and explain the effects of an increase in the rate of technological progress on the Solow growth model. In your answer, you must clearly label all curves and the initial and final equilibria. In your answer, explain what happens to the rate of growth of output per worker and the rate of growth of output as the economy adjusts to this increase in the rate of technological
progress. What will be an ideal response?