Figure 10-8
Figure 10-8 displays the cost curves of a perfectly competitive firm. Profits at a price of $10 would be approximately
a.
$1 per unit.
b.
$3 per unit.
c.
$5 per unit.
d.
$10 per unit.
a
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Rick withdraws $500 from his savings account, keeps $100 as currency, and deposits $400 in his checking account
A. M1 increases by $400 and M2 decreases by $500. B. M1 does not change, but M2 decreases by $500. C. M1 does not change, but M2 decreases by $400. D. M1 increases by $500 and M2 does not change.
Under perfect price discrimination, marginal profit at each level of output equal
A) 0. B) P - AC. C) P - MC. D) P - AR.
If GDP is $1,000 . consumption is $750, interest payments are $200, rent payments are $400, and profits are $200, what must wages and salaries equal?
a. $800 b. $400 c. $250 d. $0 e. $200
In the open-economy macroeconomic model, other things the same, when a U.S. resident imports a foreign good, the demand for dollars in the foreign-currency exchange market decreases
a. True b. False Indicate whether the statement is true or false