If the marginal cost of producing every quantity decreases, all the following occur EXCEPT
A) minimum supply price does not change.
B) the marginal social benefit of the last unit bought changes.
C) the consumer surplus increases.
D) the efficient quantity increases.
A
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Which of the following statements is true?
A. Accounting profit is always positive. B. Economic profit is always positive. C. Accounting profit is greater than or equal to economic profit. D. Economic profit is greater than or equal to accounting profit.
Suppose a = 50, c = 0.8, and T = 410. How much is saved out of a total income of 1230?
A) 706 B) 606 C) 278 D) 196 E) 114
A natural monopoly that is not regulated will choose to produce at the
A) minimum point of the long-run average cost curve. B) point at which marginal cost is above average total cost. C) point at which the demand curve intersects the long-run average cost curve. D) point at which marginal revenue equals marginal cost.
An increase in the interest rate tends to increase the demand for loanable funds
a. True b. False