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Author Question: Based on the figure above, short-run equilibrium occurs at the price level of A) 120 and real GDP ... (Read 53 times)

jace

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  • Posts: 541
on: Jun 29, 2018
Based on the figure above, short-run equilibrium occurs at the price level of
 
  A) 120 and real GDP of 5 trillion.
  B) 130 and real GDP of 10 trillion.
  C) 140 and real GDP of 15 trillion.
  D) 130 and real GDP of 15 trillion.

Question 2

The figure above portrays a total revenue curve for a perfectly competitive firm. The price of the product in this industry
 
  A) equals 0.50.
  B) equals 1.00.
  C) equals 2.00.
  D) cannot be determined.


Eazy416

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


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