The slope of a consumer's indifference curve between two commodities represents
a. her marginal rate of substitution between the commodities.
b. the relative prices of the goods.
c. her marginal revenue from selling the commodities.
d. her marginal revenue product from consuming the commodities.
a
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In December 2009, currency outside of banks was $400 billion, traveler's checks were $5 billion; checkable deposits owned by individuals and businesses were $600 billion, saving deposits were $2,000 billion, time deposits were $1,500 billion; and
money market funds were $1,200 billion. What was the M2 in December 2009? A) M2 = $5,705 billion B) M2 = $3,705 billion C) M2 = $1,005 billion D) M2 = $2,505 billion E) M2 = $5,700 billion
If the mangers of Golden Bread, a large bakery, acquire a wheat farm to produce the flour for their bread, the managers of Golden Bread are likely to experience all of the following except which one?
A) an increase in managerial diseconomies B) an increase in the complexity of coordination of Golden Bread C) the hold-up problem D) an increase in their required areas of expertise
If retailers' marginal cost from providing product-specific services for a new smart television is $50, if retailers offer the product-specific services for the television, the market ________ will ________.
A) supply; shift to the right B) supply; shift to the left C) demand; shift to the left D) supply, not shift
What is an economic model?
What will be an ideal response?