Answer the next question based on the following demand and cost data for a specific firm.Demand DataCost Data(1) Price(2) Price(3) QuantityTotal OutputTotal Cost$50$3522$4545303355402544703520559030156611525107714520588180If columns 1 and 3 are this firm's demand schedule, the profit-maximizing level of output will be

A. 6 units.
B. 3 units.
C. 4 units.
D. 5 units.

Answer: C

Economics

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In the city of Alvarez, with the exception of guide dogs for blind people, all dogs are banned from its three public parks, regardless of whether the animals are leashed. Many residents are pushing for a change in policy

Canine lover Sara Northridge observed, "There are 800 or more homes here. There are three parks within 10 minutes, and almost everyone has a dog, but we can't take our dogs there." Others fear that allowing dogs would detract from their enjoyment of the parks. Tim Cortis retorted, "We're not preventing dog lovers from enjoying the park, just come without your dog." Which of the following is a way of dealing with the problem by assigning property rights to a particular group? A) dedicate some parks, or at least one park, exclusively for the use of visitors bringing dogs to the park B) impose a two-tier entry fee system—a lower fee for non dog owners and a higher fee for dog owners C) impose a fee only for dog owners to use the public parks; non dog owners do not pay a fee D) allow dog owners to bring their dogs to the park but insist that they keep watch over their dogs

Economics

If, between 2006 and 2016, the economy's real GDP grew from $20 billion to $40 billion, what was the average annual growth rate in the economy?

A) 3% B) 7% C) 20% D) 100%

Economics