Refer to Scenario 10.5. How many garden hoses should be produced in California in order to maximize profits?
A) 1
B) 2
C) 3
D) 4
E) 5
C
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In the above figure, the economy is at point A. Then the price level falls to 90 while the money wage rate does not change. Firms will be willing to supply output equal to
A) less than $16.0 trillion. B) $16.0 trillion. C) more than $16.0 trillion. D) Without more information, it is impossible to determine which of the above answers is correct.
The preceding table gives monthly production information for Peter's Peanuts, a firm in a perfectly competitive industry. Initially the market price of peanuts is $2.00 per pound
If the market price of peanuts fall to $1 per pound and a worker costs $800 per month, how many workers will Peter employ to maximize his profit? A) zero B) two C) three D) four
During the beginning on the global financial crisis in the United States when the effects of the crisis were mostly confined within the United States, the U. S. dollar ________ because demand for U.S. assets ________
A) appreciated; increased B) depreciated; increased C) appreciated; decreased D) depreciated; decreased
From 1950 till 2009 the four-quarter growth rate of real GDP has been as high as ________ percent and as low as ________ percent
A) 8.1; -2.8 B) 12.6; -3.9 C) 3.2; 2.5 D) 5; -10