A firm sells 30 units of its product at a price of $5 per unit. It incurs a fixed cost of $100 and a variable cost of $20. The firm's profit is:

Why are elected representatives far more likely to be informed about the issues on which they vote, compared to the typical citizen-voter?

A) A politician loves politics; citizens hate it. B) A politician is more patriotic than citizens. C) A politician is rationally ignorant; citizens are just plain ignorant. D) A politician's vote has a far greater probability of affecting the outcome, compared to a citizen's vote.

All else equal, a decrease in cattle herds will decrease derived demand for US corn.

a. true b. false