If the Price of X = $1 and the Price of Y = $2, then how many units of Good X should be purchased if Income = $4?

Which of the following are characteristic of perfect competition? (Check all that apply.)

For an inferior good, an increase in consumer income will cause a(n) _____ in equilibrium price and a(n) _____ in equilibrium quantity.

Given the following information, Q = _____. (Enter only the number value.)AFC = $13AVC = $50TC = $1,386

Given the following information, FC = $_____.00. (Input only the number value. Exclude the $ sign and decimal.)ATC = $15AVC = $8Q = 61

XYZ company is considering opening a new retail location in Irvine, CA. This is a _____ decision.

If consumers expect the price of a product to decrease in the near future, then there is likely to be a(n) _____ in equilibrium price and a(n) _____ in equilibrium quantity.

What is the maximum utility achievable based on the information in this graph? (Exclude “Utility =” and enter on the numerical value.)

Based on the information in the above table, the Marginal Revenue Product of the 4th worker is $_____. (Enter only the value, not the dollar sign or decimal).

An increase in rent for businesses will cause a(n) _____ in supply and a(n) _____ in quantity demanded.