A move from S4 to S3 is a(n)
A. an increase in quantity supplied.
B. a decrease in quantity supplied.
C. an increase in supply.
D. a decrease in supply.
D. a decrease in supply.
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Use the following table to answer the question below. Cloe is given $4 of pocket money to be spent on either hard candies or chocolates. Chocolates cost 40 cents each and hard candies cost 80 cents each. The marginal utilities derived from the consumption of each product are as shown in the following table.Number of ItemsMarginal Utility of ChocolatesMarginal Utility of Hard Candies160150250140340120430100520806107075508020If Cloe buys either chocolates or hard candies one piece at a time, what will be her first two purchases?
A. a chocolate, followed by another chocolate B. a hard candy, followed by another hard candy C. a hard candy, followed by a chocolate D. a chocolate, followed by a hard candy
The Laffer curve is representative of which of the following schools?
a. Supply-side school. b. Rational expectations school. c. Keynesians. d. Neo-Keynesians. e. Classical school.
The rate of interest is determined by the
a. quantity of money available on the market b. supply and demand for loanable funds c. marginal factor cost of capital d. firm's MRP and the price of the good e. firm's MPP and the price of the good
Fixed costs are best defined as
a. costs that do not vary with output. b. costs that are at a minimum when output approaches the firm's capacity. c. the amount that one more unit of output adds to total costs. d. costs that decline as output increases.