Suppose the price of a can was $5.10. In this case, to maximize its profit, the firm illustrated in the figure above would
A) decrease its production and would make an economic profit.
B) not change its production and would make zero economic profit.
C) not change its production and would make an economic profit.
D) decrease its production and would incur an economic loss.
E) not change its production and would incur an economic loss.
A
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In the long run, large and continuing budget surpluses
a. mean higher taxes and a lower standard of living b. mean a larger money supply and higher interest rates c. are a problem because they crowd out private spending d. permit the government to lower taxes, thereby encouraging work, investment, and saving e. mean a larger money supply and lower interest rates
What is the distribution of national income currently among the owners of the factors of production-land, labor, capital, and entrepreneurship?