Based on the model, the MPC function is:
Consider the following model for the production of refined oil: MSC = 10 + 0.5Q; MEC = 0.3Q;
MSB = 30 – 0.3Q; MEB = 0.
a. MPC = 20 – 0.8Q c. MPC = 10 + 0.8Q
b. MPC = 30 – 0.6Q d. MPC = 10 + 0.2Q
d. MPC = 10 + 0.2Q
You might also like to view...
Which is an example of money as a unit of account?
a. purchasing a toy for $8.99 b. lending a friend $25.00 c. opening a savings account at a bank d. checking the price of a camera at several stores before buying it at the lowest price
The making and selling of a pencil for ten cents would likely NOT be possible, but for
A. the production possibilities curve. B. the division of labor. C. absolute advantage. D. relative advantage.
The relative price of a smartphone is
A. the price of the smartphone compared with what students think it should cost. B. what the company earned for selling the smartphone. C. the money price of the smartphone divided by the money price of some other good. D. the amount it cost to make the smartphone.
In the market for birth control devices, if the number of women of child-bearing age increases, the
A. demand curve will shift to the left. B. supply curve will shift to the left. C. demand curve will shift to the right. D. supply curve will shift to the right.