Under the monetary growth rule proposed by the monetarists, the money supply would grow each year at a constant rate equal to the long-run rate of growth of

A perfectly competitive firm has total revenue and total cost curves given by:

TR = 100Q TC = 5,000 + 2Q + 0.2 Q2 a. Find the profit-maximizing output for this firm. b. What profit does the firm make?

A person has an absolute advantage in producing a good if he can

a. produce it using fewer resources than another person b. produce it while sacrificing less than another person in terms of foregone output c. corner the market d. use other peoples' money to produce it e. work out some long term payment plan for financing the good