« previous next »

Author Question: In the above figure, if the price is 4 per unit, how many units will a profit maximizing perfectly ... (Read 82 times)

chads108

  • Hero Member
  • *****
  • Posts: 507
on: Jun 29, 2018
In the above figure, if the price is 4 per unit, how many units will a profit maximizing perfectly competitive firm produce?
 
  A) 0
  B) 5
  C) 20
  D) 30

Question 2

Suppose that during 2009, the actual real GDP of Chile was 3.5 billion pesos at the same time the potential GDP was 3.4 billion pesos. What sort of equilibrium existed in Chile?
 
  What will be an ideal response?


bobsmith

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

Chile's actual real GDP exceeded its potential GDP, so Chile was in an above-full-employment, inflationary gap equilibrium.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Methods to Document Peripheral Pulses A. Stick Figure Peripheral Pulse Documentation B. Tabular Peri Methods to Document Peripheral Pulses A. Stick Figure Peripheral Pulse Documentation B. Tabular Peri
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
A typical electric motor-driven AIR pump. This unit is on a Chevrolet Corvette and only works when ... A typical electric motor-driven AIR pump. This unit is on a Chevrolet Corvette and only works when ...
The distribution of cones and rods over the human retina. The figure illustrates the number of cones ... The distribution of cones and rods over the human retina. The figure illustrates the number of cones ...
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Identify the junction nodes in the circuit shown in Figure 21-1. Identify the junction nodes in the circuit shown in Figure 21-1.
Video: Antidiuretic hormone (vasoconstriction, water reabsorption & sweat inhibition)

For a complete list of videos, visit our video library