Suppose a Competitive Firm Produces 100 Units of X for a Price

question 21

Multiple Choice

Suppose a competitive firm produces 100 units of X for a price of $10 a unit.The firm employs labor such that the marginal product of labor is 20.The wage paid for one unit of labor is $60.Given that capital is kept fixed,the firm _____.

• A)is in equilibrium
• B)is suffering an economic loss
• C)should increase production
• D)should reduce output

Comprehend the factors leading to the United States' inclusion of the Philippines in its conflict with Spain.

Analyze Senator Albert Beveridge's justification for American imperial expansion.

Evaluate the American public's reaction to President Theodore Roosevelt's strategy for securing rights to an isthmian canal.

Assess the emergence of the United States as an overseas imperial power in 1898, distinguishing between chance and political strategy.