In the above figure, at a price of $4 per unit, a profit-maximizing perfectly competitive firm will
A) shut down because its total revenue is less than its variable costs.
B) incur an economic loss.
C) produce 5 units.
D) Both answers A and B are correct.
D
Economics
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If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the employment-to-population ratio is
A) 78.6 percent. B) 75 percent. C) 71.4 percent. D) 66.6 percent.
Economics
Suppose there is a bank panic. Which of the following would not be a consequence of this bank panic?
A) Individual banks would have to shrink the value of loans they made. B) The economy would likely enter into a recession. C) Bank total reserves would decrease. D) Bank checking account balances would decrease. E) Required reserves would increase.
Economics