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Ex8222

# Ex8222 - I guess that the circumference of the earth is...

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I guess that the circumference of the earth is about: 5,000 miles 10,000 miles 15,000 miles 25, 000 miles 30,000 miles 35,000 miles 45,000 miles 55,000 miles 65,000 miles 75,000 miles 2% 2% 4% 24% 4% 14% 13% 11% 15% 12% 1. 5,000 miles 2. 10,000 miles 3. 15,000 miles 4. 25, 000 miles 5. 30,000 miles 6. 35,000 miles 7. 45,000 miles 8. 55,000 miles 9. 65,000 miles 10. 75,000 miles

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The circumference of the earth is about: 5,000 miles 10,000 miles 15,000 miles 25, 000 miles 30,000 miles 35,000 miles 45,000 miles 55,000 miles 65,000 miles 75,000 miles 1% 0% 3% 59% 2% 4% 3% 3% 16% 9% 1. 5,000 miles 2. 10,000 miles 3. 15,000 miles 4. 25, 000 miles 5. 30,000 miles 6. 35,000 miles 7. 45,000 miles 8. 55,000 miles 9. 65,000 miles 10. 75,000 miles
What is it really? 24,901 miles

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Firms in an industry have \$500 fixed costs, variable costs of \$20 per unit, and capacity of 50 units. In the long run there is free entry and exit. What is the long run equilibrium price? 13% 5% 79% 3% 1. \$20 2. \$50 3. \$30 4. \$25
A competitive firm has fixed costs of \$10,000, capacity of 1000 and variable costs of \$5 per unit. In the short run if the price of the good falls from \$15 to \$7.50, the firm will ero nits nits. nits.

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