Refer to the data. The average fixed cost of producing 3 units of output is:
A. $8.
B. $7.40.
C. $5.50.
D. $6.
A. $8.
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What are the factors that change the supply of saving and shift the supply of loanable funds curve?
What will be an ideal response?
Which of the following statements best describes an effect of tax cuts?
a. When the economy is doing extremely well, tax cuts may shift AD so far to the right as to generate inflationary pressures, with little gain to GDP. b. When the economy is doing extremely well, tax cuts may shift AD so far to the right as to generate inflationary pressures, with considerable gain to GDP. c. When the economy is doing extremely well, tax cuts may shift AD so far to the left as to generate inflationary pressures, with little gain to GDP. d. When the economy is doing extremely well, tax cuts may shift AD so far to the left as to generate inflationary pressures, with considerable gain to GDP.
Negative externalities cause loss of welfare not transmitted by market factors.
A. True B. False C. Uncertain
Answer the next question based on the following payoff matrix for a duopoly. The numbers indicate the profit in thousands of dollars for a high-price or a low-price strategy. Firm X? High PriceLow PriceFirm YHigh priceX = $625X = $725??Y = $625Y = $475?Low priceX = $475X = $400??Y = $725Y = $400Refer to the above payoff matrix. If both firms collude to maximize joint profits, the total profits for the two firms will be:
A. $1,250,000. B. $1,400,000. C. $1,200,000. D. $800,000.