« previous next »

Author Question: In the above figure, if the price is 4 per unit, how many units will a profit maximizing perfectly ... (Read 67 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?

Medication errors are three times higher among children and infants than with adults.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Components of nail unit Components of nail unit
How to convert between imperial and metric units (Part 1) How to convert between imperial and metric units (Part 1)
Colossal Figure of Akhenaten Colossal Figure of Akhenaten
Cells are the basic units of life Cells are the basic units of life
If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle
Because the factor h on the right side of the Heisenberg uncertainty principle has units of ... Because the factor h on the right side of the Heisenberg uncertainty principle has units of ...
Video: Exercise and cardiac output & Definition of stroke volume

For a complete list of videos, visit our video library