In the following graph, the price of labor is $15 per unit. How many units of labor should a firm use to produce 2,000 units of output at the least cost?
A. 80
B. 100
C. 40
D. 50
E. none of the above
Answer: D
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Describe the potential benefits and the potential costs to global trade of the tremendous growth in regional trade agreements
What will be an ideal response?
Refer to the table below. What is the profit-maximizing quantity for Just Juice to produce at Plant 2?
Just Juice produces whole fruit juice that it sells in single bottles. Just Juice is a multi-plant firm with market power. The above table summarizes the total marginal cost of production at various output levels in Just Juice's two plants with the corresponding marginal revenue (dollars per bottle) and market demand (price per bottle).
A) 425
B) 450
C) 530
D) 600
What has been TRUE about inflation in the United States since 1960?
A. Inflation rates have been consistently positive. B. Inflation rates have been consistently above 100 percent per year C. The annual rate of inflation has varies around zero percent. D. The nation has experienced persistent deflation.
If the price of pesos in dollars is $0.10,
A. the price of dollars in pesos is 10. B. the price of dollars in pesos is 1. C. the price of dollars in pesos is 1/10. D. the price of dollars in pesos cannot be determined.