An increase in worker productivity will lead to a
A.
Negative demand shock
B.
Positive demand shock
C.
Negative supply shock
D.
Positive supply shock
D.
Positive supply shock
Economics
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Exhibit 8-3 Cost per unit curves
In Exhibit 8-3, if the price of the firm's product is $2.00 per unit, the firm will produce:
A. 5 units per day. B. 10 units per day. C. 15 units per day. D. 20 units per day.
Economics
A monopoly produces widgets at a marginal cost of $20 per unit and zero fixed costs. It faces an inverse demand function given by P = 100 ? 4Q. What are the profits of the monopoly in equilibrium?
A. $800 B. $600 C. $200 D. $400
Economics