Use the following table to answer the next question. The table shows the total costs associated with varying levels of output produced by a perfectly competitive firm.OutputTotal Cost0$2,50012,70023,10033,70044,50056,000If the product sells for $1,200 a unit, the firm's profit-maximizing output is
A. 2.
B. 3.
C. 4.
D. 5.
Answer: C
Economics
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Which of the following is not an example of price discrimination?
a. IBM charges business users of its laser printer more than home users b. Intel offered faster and slower versions of a computer chip c. An amusement park charges the same admission fee to local residents and out-of-towners d. Adobe stripped some features from Photoshop to offer a cheaper version e. Holders of Nevada driver's licenses pay less to ride the Las Vegas monorail
Economics
A chart of the ratio of national debt to GDP from 1915 to 2014 would show
A. significant increases from 1945 to 1975. B. significant increases during World Wars I and II. C. a larger value in 1975 compared to 1945. D. significant increases from 1995 to 2003.
Economics