If this firm were a perfect competitor, it would produce at _____ units of output and charging a price of _______.
A. 200; $7.00.
B. 200; $12.80.
C. 280; $10.40.
D. 280; $12.00.
D. 280; $12.00.
You might also like to view...
The above table shows Priscilla's marginal utility from the two goods she consumes, pizza and Pepsi. The price of a slice of pizza is $2 and of a can of Pepsi is $1. Suppose Priscilla has $6 to spend. If Priscilla chooses to eat 3 slices of pizza
A) she is maximizing her total utility. B) she is not equating marginal utility per dollar for pizza and Pepsi. C) she is not at a consumer equilibrium. D) Both answers B and C are correct.
The slope of the demand curve and the price elasticity of demand are
a. basically the same thing b. determined by supply c. are derived from production and distribution costs d. different because slope is based on absolute changes and elasticity is based on percentage changes e. implicit in the shape of the supply curve
Describe the circumstances under which the M1 money supply could fall while the M2 money supply remains constant at the same time
Suppose China can produce either 300 telephones or 200 DVD players, and Japan can produce either 200 telephones or 100 DVD players. Implicitly, Japan has
A. Both an absolute and a comparative advantage in telephones. B. Neither a comparative nor an absolute advantage in telephones. C. A comparative but not necessarily an absolute advantage in telephones. D. An absolute but not necessarily a comparative advantage in telephones.