If the total costs of producing 1,500 units of output is $15,000 and this output sold to consumers for a total of $16,500, then the firm would earn profits of:

The classical framework is based on which of the following assumptions?

A) many firms in the economy B) no single firm can control prices C) in the long-run the quantity of factors supplied must be equal to the quantity of factors demanded D) all of the above E) none of the above

The present value of $1 payable in two years is

a. $1. b. $1/(1 + 2r). c. $1/(1 ? 2r). d. $1/(1 + r)2.