The Figure Given Below Shows the Revenue and the Cost

question 9

Multiple Choice

The figure given below shows the revenue and the cost curves of a perfectly competitive firm.Figure 10.3

-In Figure 10.3, at equilibrium, the firm enjoys a profit of:

• A)$69.
• B)$42.
• C)$60.
• D)$27.
• E)$48.

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Definitions:

National Saving

The total amount saved by a nation's households and businesses, plus government budget surplus, which can be used for investment.

Open-Economy Macroeconomic Model

A model that analyzes an economy that engages in international trade, considering the impact of exports, imports, and capital flows.

Tariffs

Tariffs are taxes imposed by a government on imported goods and services to protect domestic industries, raise revenue, or influence trade balance.

Net Exports

The value of a country's exports minus the value of its imports, a key component in calculating a nation's GDP.