Use the following graph to answer the next question.
At the profit-maximizing level of output, the profit earned by the perfectly competitive firm is given by the area
A. BCFG.
B. 0AHE.
C. ABGH.
D. ACFH.
Answer: C
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The forecasting technique which involves the use of the least squares statistical method to examine trends, and takes into account seasonal and cyclical fluctuations, is known as
A) compound growth rate projection. B) the Delphi method. C) time series projection. D) exponential smoothing projection.
The Fed can decrease the money supply by
a. decreasing the reserve requirement b. making open market purchases of bonds c. selling government bonds d. destroying printed currency e. creating wealth
You are assigned a group project for the class, you will be graded as a group, and your individual grade will be decided on the group's performance relative to other groups. Would you like this arrangement?
What will be an ideal response?
In the long run:
A. some inputs can be varied and no inputs are fixed. B. all inputs can be varied and no inputs are fixed. C. some inputs can be varied and some inputs are fixed. D. no inputs can be varied and all inputs are fixed.