Refer to the graph shown. If the seller expects a price of $52, the minimum amount the firm must produce to be profitable is:
A. 18.
B. 16.
C. 17.
D. 15.
Answer: C
You might also like to view...
The demand for money curve shows the relationship between the quantity of money demanded and
A) real GDP. B) the inflation rate. C) the real interest rate. D) the price level. E) the nominal interest rate.
The Beard-Hacker Thesis claims that post-bellum economic growth in the United States:
a. was slowed by rapid immigration. b. was accelerated by rapid immigration from English speaking countries. c. was slowed by the formation of industrial monopolies. d. was accelerated by economic and financial changes generated by the Civil War.
When the price of a good is above its equilibrium price, a:
a. surplus puts upward pressure on the price. b. surplus puts downward pressure on the price. c. shortage puts upward pressure on the price. d. shortage puts downward pressure on the price.
Laissez-faire is a French expression which literally means
a. to make do. b. to get involved. c. whatever works. d. allow them to do.