Author Question: In the figure above, Gap maximizes its profit if it sells ________ jackets per day. A) 100 B) 64 ... (Read 76 times)

abern · **on:** Jun 29, 2018

In the figure above, Gap maximizes its profit if it sells ________ jackets per day.

A) 100
B) 64
C) 129
D) 133

Question 2

The apple market is perfectly competitive and is in long-run equilibrium. Now a disease kills 50 percent of the apple orchards. In the short run, the price of a bag of apples ________ and the remaining apple growers make ________ economic profit.

In the long run, the ________. A) increases; zero; price of apples will return to their original level
B) remains the same; zero; orchards will be replanted and growers will make normal profits
C) increases; zero; orchards will be replanted and economic profit will return to zero
D) increases; positive; orchards will be replanted and economic profit will return to zero