Billy's Bean Bag Emporium produced 300 bean bag chairs but sold only 275 of the units it produced. The average cost of production for each unit of output produced was $100 . The price for each of the 275 units sold was $95 . Total profit for Billy's Bean Bag Emporium would be

Tom and Jerry are the only members of society. The table above shows their marginal benefits from defense satellites, a public good. If the marginal social cost of a satellite is $95, the efficient quantity of satellites is

A) 0. B) 1. C) 2. D) 3.

If the asset market is in equilibrium, the growth rate of the nominal money supply minus the growth rate of real money demand equals

A) the real interest rate. B) the inflation rate. C) the price level. D) the growth rate of real output.