Which of the following best describes a steady state?
A) Political stability is maintained by the state.
B) The standard of living is increasing at a stable rate.
C) Each firm in the economy receives a steady stream of income.
D) Output per worker, consumption per worker, and capital per worker are constant.
D
Economics
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Refer to Figure 9-3. With a quota in place, what is the quantity supplied by domestic producers?
A) 8 million pounds B) 10 million pounds C) 16 million pounds D) 18 million pounds
Economics
Suppose a firm has an output of 10,000 cans and a total fixed cost of $2,000 . At an output of 5,000 the difference between the total cost and the total variable cost is:
a. b and c. b. $0.40. c. the average fixed cost. d. $2,000. e. $0.20.
Economics