In a competitive market, the market demand is Qd = 60 - 6P and the market supply is Qs = 4P. The full economic price under a price ceiling of $3 is
A. 6.
B. 7.
C. 8.
D. 9.
Answer: C
Economics
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The first-order conditions for profit maximization in a perfectly competitive market are:
A. (dR(Q)/dQ) ? (d2C(Q)/dQ2) < 0. B. P > (dC(Q)/dQ). C. P ? (dC(Q)/dQ) = 0. D. P ? (d2C(Q)/dQ2) = 0.
Economics
The International Monetary Fund divides nations into three groups. What are the three groups and what are the characteristics of each group?
What will be an ideal response?
Economics