Complete the following sentence: At the most profitable level of production, a firm's marginal cost will be _____ the marker price.

The demand for microwaves in a certain country is given by: D = 8,000 -30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. If this economy opens to trade while the world price of a microwave is $50, how many microwaves will be imported or exported?

A. 2,000 imported B. 2,000 exported C. 1,000 imported D. 3,000 exported

Suppose an efficient market has been operating with regard to stock in a particular company, and that company announces that its profits were up 50% from the previous period. However, the stock price falls after getting the news on a day when all of the other stocks are barely moving. This is

A. at least potentially consistent with the efficient market hypothesis because investors may have been anticipating 25% gains. B. absolutely illogical. C. at least potentially consistent with the efficient market hypothesis because investors may have been anticipating 75% gains. D. at least potentially consistent with the efficient market hypothesis because investors may have been anticipating those 50% gains.