Assume SeatComfy Inc. manufactures table and chairs with the following total cost function, TC=10,000+10Q+0.1Q2, where Q=quantity of chairs produced. If SeatComfy can sell as many chairs as it wishes at the current market price of $45, how many chairs should it produce to maximize its short-run profits?

From time to time, the Federal Reserve sells various quantities of government bonds to the private sector through a process called

A) bond recall procedures. B) open market sales. C) backflip bond investments. D) voluntary redemption procedures.

If the United States imposes a tariff on foreign chocolate, how are U.S. producers of chocolate affected?

A) The quantity of chocolate they sell decreases because U.S. consumption of chocolate decreases. B) The quantity of chocolate they produce increases. C) The price at which they sell their chocolate falls. D) They are harmed because foreign exporters of chocolate increase their supply in response to the higher price. E) They are unaffected because the quota applies to foreign producers, not to U.S. producers.