Suppose a profit-maximizing firm finds itself producing 1,000 cellular phones each week. The profit is $400 per week. What will the profit be if it were to minimize costs at that output level?
a. $100
b. $200
c. $300
d. $400
e. $500
D
You might also like to view...
Which of the following can people not get at their commercial banks?
A. certificates of deposit B. money market deposit accounts C. money market mutual funds D. time deposits
Refer to Table 9-11. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many clocks will Denmark gain compared to the "without trade" numbers?
A) 30 B) 100 C) 150 D) 900
A firm is currently selling its output for $30 per unit. If the firm reduces the price to $29 in order to boost sales, marginal revenue will
a. equal $30 b. equal $29 c. be between $30 and $29 d. be less than $29 e. exceed $30
When a country allows international trade and becomes an importer of a good,
a. domestic producers of the good become better off. b. domestic consumers of the good become better off. c. the gains of the winners fall short of the losses of the losers. d. All of the above are correct.