Refer to the information below. If the firms compete, how much do each of the firms earn in profit?
A small nation has three gasoline suppliers with a linear monthly market demand equal to: Q = 500,000 - 5P. Each firm's marginal cost (MC) and average total cost (ATC) curves are horizontal at $10,000 per month.
A) $100,000 B) $50,000 C) $0 D) $10,000
C) $0
Economics
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Which of the following was NOT true when Katharine McCormick was born in 1875?
A. Very few women went to college B. Birth control was illegal C. Women couldn't vote D. Women were not allowed to own property
Economics
A $100 billion decrease in government purchases would:
a. increase AD by $500 billion if MPC = 0.8. b. decrease AD by $300 billion if MPC = 2/3. c. increase AD by $200 billion if MPC = 0.5. d. decrease AD by $40 billion if MPC = 0.4.
Economics