If a sum of $15,000 is borrowed at 13% for a year, the interest paid by the borrower is ________

What is the profit-maximizing condition for a firm when trying to decide how much land touse forproduction?

What will be an ideal response?

If firms in a perfectly competitive industry produce an undifferentiated product, it is not possible to increase profits of the individual firms in the industry by increasing market demand for the product because of the large number of available

substitutes. Indicate whether the statement is true or false