The following table depicts both the product and labor markets for imported coffee. What is the total revenue when 15 workers per day are hired?
A) $5,000
B) $6,750
C) $7,350
D) $7,500
B
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Refer to the table above. What is the total cost of producing 145 units of the good?
A) $90 B) $180 C) $190 D) $210
It is more profitable for a firm to be_______ than ________
a. In perfect competition; monopolists b. A monopolists; in perfect competition c. Not in business; in business d. All of the above
It is often impossible for a business firm to determine its private costs of production
a. True b. False Indicate whether the statement is true or false
Expansionary fiscal policy tends to:
A. lower U.S. income, reduce U.S. imports, and lower the trade deficit. B. raise U.S. income, increase U.S. imports, and lower the trade deficit. C. lower U.S. income, reduce U.S. imports, and increase the trade deficit. D. raise U.S. income, increase U.S. imports, and increase the trade deficit.