In the short run, which factor is not relevant in profit-maximizing output decisions?
a. wage rates
b. raw material costs
c. mortgage costs
d. energy costs
e. market price
C
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In the above figure, the curve's slope is
A) positive and is becoming steeper. B) positive and is becoming less steep. C) negative and is becoming steeper. D) negative and is becoming less steep.
If a decision maker uses marginal analysis, then the relevant costs are the
a. full costs of a particular activity or product. b. fixed costs which do not vary with the extra activity or output. c. profits obtained on the activity or product. d. average costs for a particular activity or product. e. additional costs of a particular activity or product.
The goal of macroeconomics is to explain the economic changes that affect many households, firms, and markets simultaneously
a. True b. False Indicate whether the statement is true or false
Refer to the given table. Suppose the columns in this table reflect demand and supply. At a price of $50:Price Per UnitColumn A Units Per YearColumn B Units Per Year$2010040$309550$408060$506570$605080
A. the market will be in equilibrium. B. there will be an excess supply of 5 units. C. there will be an excess demand of 5 units. D. there will be an excess supply of 70 units.