« previous next »

Author Question: In the above figure, if the price is 4 per unit, how many units will a profit maximizing perfectly ... (Read 78 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?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

(A) Figure illustrating the location and appearance of a peptic ulcer in both the stomach and the du (A) Figure illustrating the location and appearance of a peptic ulcer in both the stomach and the du
In this cartoon, Boss Tweed welcomes cholera—a skeletal figure of death carrying a handbag from “Asi In this cartoon, Boss Tweed welcomes cholera—a skeletal figure of death carrying a handbag from “Asi
Controlled cold compression unit. Controlled cold compression unit.
Mixing schematic Diagram CHE 415 unit operations experiment apparatus Mixing schematic Diagram CHE 415 unit operations experiment apparatus
Expressing amounts of energy in different energy units is necessary to solve many chemistry ... Expressing amounts of energy in different energy units is necessary to solve many chemistry ...
Swimming Pool (Figure 3.1) Swimming Pool (Figure 3.1)
Video: Neuron structure and function - sensory neurons, association neurons & motor neurons

For a complete list of videos, visit our video library