Exhibit 7-3 Cost per unit curves
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In Exhibit 7-3, 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.

Answer: C

Economics

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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.

A. lower; potential B. higher; potential C. higher; higher D. lower; higher

Economics

In the Keynesian view of macroeconomic equilibrium during a depression, aggregate demand and aggregate supply intersect

A. in the horizontal segment of the aggregate supply curve. B. in the horizontal segment of the aggregate demand curve. C. in an upward-sloping segment of the aggregate supply curve. D. in the vertical segment of the aggregate supply curve.

Economics