In Figure 4.2, at quantities smaller than Q1, demand is:

One important difference between the international economy of today and the economy of 100 years ago is

A) that labor is so much more mobile. B) for the first time, technological innovations have reduced the barrier of distance. C) for the first time, capital is mobile. D) that price differences in different markets have narrowed. E) the presence of international bodies such as the IMF and World Bank.

Given the data in the table below, what is the short-run profit-maximizing level of output for the perfectly competitive firm?OutputTotal RevenueTotal Cost1$4$228331264161052015

A. 2 units B. 3 units C. 4 units D. 5 units