Refer to the below data. If columns 1 and 3 are this firm's demand schedule, the profit-maximizing level of output will be:
Answer the question on the basis of the following demand and cost data for a specific firm.
A. 3 units
B. 4 units
C. 5 units
D. 6 units
B. 4 units
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Andrea invests $20,000 in tuition fees for her three years of college education. Had she worked those three years, she could have earned a total of $8,000 . Identify the correct statement from the following
a. The opportunity cost of her college education is $20,000. b. The investment cost of college consists of $20,000. c. The investment cost of her college degree is $28,000. d. The opportunity cost of her college education is $28,000.
Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher