Author Question: In the market for potatoes, where price level reaches its low in October and its peak in June, ... (Read 75 times)

2125004343 · **on:** Jun 30, 2018

In the market for potatoes, where price level reaches its low in October and its peak in June, speculators help to:
a. keep the equilibrium price uniform over the year.
b. lower the level of consumption in June.
c. lower the level of consumption in October.
d. keep the equilibrium price level low over the year.

Question 2

Suppose that Megabucks Corporation is earning an economic profit of 4,000 through the sale of a product. If the price of the product is 6 per unit and its ATC is 4 per unit, Megabucks must be producing 8,000 units.
a. True
b. False
Indicate whether the statement is true or false