Between 1620 and 1710, the price of tobacco in the colonies:
a. rose rapidly.
b. remained fairly stable due to monopolistic competition.
c. fell from over 20 pence sterling to roughly one pence per pound.
d. fell from over 20 pence sterling to roughly 10 pence per pound.
c. fell from over 20 pence sterling to roughly one pence per pound.
Economics
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Refer to Table 2-4. Dina faces ________ opportunity costs in the production of sliders and hot wings
A) constant B) decreasing C) increasing D) negative
Economics
Suppose a monopolist has TC = 40 + 10Q + Q2, and the demand curve it faces is p = 130 - 2Q. What is the maximum profit achieved by this monopoly?
A) Profit = 1160 B) Profit = 1240 C) Profit = 1450 D) Profit = 1800
Economics