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Author Question: The figure above shows the marginal revenue and costs of a perfectly competitive firm. When 170 ... (Read 103 times)

ec501234

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on: Jun 29, 2018
The figure above shows the marginal revenue and costs of a perfectly competitive firm. When 170 units are produced, the
 
  A) firm has total revenue of 2,720.
  B) firm's total costs are less than 2,720.
  C) firm is making an economic profit.
  D) All of the above are true.

Question 2

How has growth in M2 minus the growth in real GDP compared to the inflation rate in the United States?
 
  What will be an ideal response?


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jsm54321

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

Since 1960, M2 growth minus the growth in real GDP has been closely correlated with inflation rates. The period of rapid inflation, during the 1970s, occurred at the same time there was a high growth rate of M2 minus the growth rate of real GDP. This correlation is present throughout all the years.


ec501234

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Hdosisshsbshs

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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