Author Question: In the above figure, total revenue for this profit-maximizing monopolistically competitive firm is ... (Read 147 times)

dbose · **on:** Jun 29, 2018

In the above figure, total revenue for this profit-maximizing monopolistically competitive firm is

A) 50,000.
B) 91,000.
C) 96,000.
D) 100,000.

Question 2

If the production of capital goods is shown along the horizontal axis of a production possibilities curve, and the production of consumer goods is shown along the vertical axis of a production possibilities curve, and the economy desires to have a

rapid rate of economic growth, then the economy should produce at a point A) near the middle of the curve dividing resources equally between the production of consumer and capital goods.
B) at a point near the vertical axis concentrating on the production of consumer goods.
C) at a point near the horizontal axis concentrating on the production of capital goods.
D) at a point inside the curve allowing the economy to adjust rapidly to changes in economic activity.