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Suppose a firm spends $2,000 per day producing a good. The wage rate per worker is $500 per day and rental rate per unit of capital is $100 per day. In the above graph, the firm’s isocost line at the current expenditure level is represented by:

In the market for apartment rentals, the demand and supply equations are given by QD = 9,000-2P and QS = 3P+1,000, where P is the price per apartment and Q measures the quantity of apartments. What is the equilibrium quantity?

Suppose a firm’s total cost is given by TC = 650+20Q+4Q2, and its marginal cost is given by MC = 20+8Q. It operates in a perfectly competitive market where the price per unit of output is $100. What value of Q maximizes the firm’s profits?

Pick one of the areas that was outlined in the article, “Neuroscience-based psychotherapy: A position paper.” How might the study of neuroscience benefit the work of a mental health professional even if they are not a “neuropsychologist.” Explain your own opinion or perspective, in combination with any insights you gleaned from the article.

The demand and supply of detergent are given by QD = 7,000-1,000P and QS = 1,000P-1,000, where P is price per gallon and Q is in gallons. What happens at a price floor of $5 per gallon?

Daniella buys a yogurt parfait every week. She is willing to pay $9 for the parfait, but the school store typically sells them for $4. Today, the store is running a sale and the price of yogurt parfaits is only $3. What is Daniella’s consumer surplus when she buys the parfait on sale?

The demand and supply of detergent are given by QD = 7,000-1,000P and QS = 1,000P-1,000, where P is price per gallon and Q is in gallons. What happens at a price ceiling of $2 per gallon?

Versioning is a form of ____ price discrimination because ____.

Suppose that the inverse demand in a market is P = 100-2Q. A firm’s marginal cost is constant and equal to $70. If the marginal cost increased from $70 to $80 and the firm is a monopoly, then it would raise its price _____. If the marginal cost increased from $70 to $80 and the firm operates in a perfectly competitive market, then the market price would _____.

A firm is producing 8 units of output at an average total cost of $40. When the firm produces 9 units of output, average total cost rises to $54. What is the marginal cost of the nineth unit of output?