Refer to Table 4-6. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the market price of Marko's polo shirts is $18
A) there will be a surplus; as a result, the price will fall to $7.
B) Marko's will produce four shirts.
C) producer surplus from the first shirt is $18.
D) producer surplus will equal $22.
D
Economics
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Refer to the information above. An economy's real GDP per person doubles every 18 years when it maintains a growth rate of ________ per year
A) 5.6 percent B) 4.0 percent C) 0.25 percent D) 0.9 percent
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If Dell and Toshiba computers are substitutes and the price of dell computers increases we would expect to see
a. An increase in demand for Toshiba computers b. An decrease in demand for Toshiba computers c. An increase in the quantity of Toshiba computers demanded d. An decrease in the quantity of Toshiba computers demanded
Economics