Refer to Figure 5-13. The efficient equilibrium price of gasoline is ________ per gallon

If a monopolistically competitive firm is producing 50 units of output where marginal cost equals marginal revenue, total cost is $1,674 and total revenue is $2,000, its average profit is

A) $326. B) $40. C) $6.52. D) impossible to determine without additional information.

Refer to the data provided in Table 11.4 below to answer the following question(s).   Table 11.4 Refer to Table 11.4. If the interest rate is 22%, then the farmer will only

A. buy the tractor and the irrigation system. B. buy the bookkeeping software and the grain storage tanks. C. buy the bookkeeping software. D. buy the tractor.