Profit maximizing (or loss minimizing) level of output
A. is OR.
B. is OS.
C. is OT.
D. None of the choices are correct.
B. is OS.
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In the above figure, at any price between $8 per unit to $12 per unit, how many units will a profit-maximizing perfectly competitive firm produce?
A) None, because the producer will never choose to operate at a loss. B) Less than 20 because this will reduce marginal cost. C) Between 20 and 30, because variable costs are covered so the firm's losses will be minimized by producing rather than shutting down. D) More than 30, because variable costs are covered so that the producer can earn economic profits.
Unlike firms that sell stock in financial markets, which are known as ________ firms, companies which do not sell stock in financial markets are known as ________ firms
A) public; private B) corporate; proprietary C) open; closed D) stock market; bond market
The increase in the federal deficit due to the 2009 stimulus package may have had a smaller impact on the economy due to forward-looking households and firms
A) reducing consumption and investment expenditures in anticipation of future tax increases. B) purchasing more treasury securities to finance the stimulus package and purchasing fewer goods and services. C) taking advantage of the strong U.S. dollar to purchase more imported goods. D) waiting for the real interest rate to fall before borrowing to make long-term investments.
Refer to the diagram for a nondiscriminating monopolist. Demand is elastic:
A. in the q 1 q 3 output range.
B. only for outputs greater than q 4 .
C. for all levels of output less than q 2 .
D. for all levels of output greater than q 2 .