Given a perfectly competitive market structure, at the profit-maximizing output level, a firm's total fixed cost is $10, total variable cost is $100, marginal revenue is $4, and the quantity demanded is 50 . The total profit earned by the firm is:

When the price of a bagel rises from $0.45 to $0.65, the quantity of cream cheese demanded falls from 12,000 to 10,000 ounces per year. Use the midpoint formula to calculate the cross-price elasticity between bagels and cream cheese

What does the sign imply about the relationship between these two goods?

According to the misperceptions theory, an anticipated 10% decrease in the money supply leads to a short-run reduction in the price level of

A) 0%. B) 5%. C) some amount between 0% and 10%. D) 10%.