« previous next »

Author Question: In the above figure, if the price is 4 per unit, how many units will a profit maximizing perfectly ... (Read 92 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?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Myopia (nearsightedness). In the uncorrected top figure, the image comes into focus in front of the Myopia (nearsightedness). In the uncorrected top figure, the image comes into focus in front of the
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Mobilize knuckles with figure-8s. Turn the hand so palm faces the table. Grasp the proximal phalange ... Mobilize knuckles with figure-8s. Turn the hand so palm faces the table. Grasp the proximal phalange ...
Cut the figure into two identical parts Cut the figure into two identical parts
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
Swimming Pool (Figure 3.1) Swimming Pool (Figure 3.1)
Video: Oral Hygiene & Braces Animation

For a complete list of videos, visit our video library