« previous next »

Author Question: In the above figure, if the price is 4 per unit, how many units will a profit maximizing perfectly ... (Read 83 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 is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

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

The anterior pituitary is sometimes called the master gland because it secretes many hormones that r The anterior pituitary is sometimes called the master gland because it secretes many hormones that r
Mixing schematic Diagram CHE 415 unit operations experiment apparatus Mixing schematic Diagram CHE 415 unit operations experiment apparatus
A hyfrecator, an electrocautery unit. A hyfrecator, an electrocautery unit.
The illusory bands visible in this figure are often called Mach bands, although Mach used a ... The illusory bands visible in this figure are often called Mach bands, although Mach used a ...
Figure of a Woman with a Drawing Showing Evidence of Original Painting and Outlining Design Scheme Figure of a Woman with a Drawing Showing Evidence of Original Painting and Outlining Design Scheme
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
Video: Mechanism of enzyme action

For a complete list of videos, visit our video library