In the diagram, the range of diminishing marginal returns is:
A. 0Q 3 .
B. 0Q 2 .
C. Q 1 Q 2 .
D. Q 1 Q 3
D. Q 1 Q 3
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The equilibrium quantity of a good will increase and its equilibrium price might rise, fall, or stay the same when
A) its demand and supply both increase. B) its demand increases and supply decreases. C) its demand decreases and supply increases. D) its demand and supply both decrease.
The prisoner's dilemma game can be used to describe
A. the game Rock Paper Scissors B. why candidates in elections go negative. C. how individuals acting in their self-interest leads to the best outcome overall. D. a zero sum game.
In the above figure, a monopolist will set its level of output and price at
A. Q1 and B, respectively. B. Q1 and A, respectively. C. Q3 and F, respectively. D. Q2 and C, respectively.
When optimizing in levels, if the ________ exceeds the ________, Project A is chosen over Project B
A) marginal benefits of Project B; marginal benefits of Project A B) net benefits of Project A; net benefits of Project B C) total benefits of Project A; total benefits of Project B D) marginal cost of Project A; marginal costs of Project B