A New Keynesian firm produces the output at which
A) marginal revenue equals zero.
B) marginal cost equals zero.
C) its selling price equals marginal cost.
D) marginal revenue equals marginal cost.
D
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Why do environmentalists worry about faster economic growth? Economists concede that faster growth is not always better. Why?
What will be an ideal response?
In the short run, a firm that is a price taker will stay in business as long as
a. price equals average revenue. b. marginal revenue is greater than or equal to marginal cost. c. price exceeds average variable cost. d. price is less than average variable cost.
Someone who is risk-averse has
A) diminishing marginal utility of wealth. B) constant marginal utility of wealth. C) increasing marginal utility of wealth. D) less marginal utility of wealth than someone who is risk-neutral.
The resources that a taxpayer devotes to complying with the tax laws are a type of
a. consumption tax. b. value-added tax. c. deadweight loss. d. producer surplus.