The figure above shows the marginal revenue and costs of a perfectly competitive firm. When 170 units are produced, the
A) firm has total revenue of $2,720.
B) firm's total costs are less than $2,720.
C) firm is making an economic profit.
D) All of the above are true.
D
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Consider the change in the price of a book depicted in the above figure. The original budget line is BC. The new budget line is BD. As a result of this price change, the income effect can be represented by a movement from
A) point E to point F. B) point G to point A. C) point G to point F. D) point A to point F.
Gradually over the last two decades, ________ policy has emerged as the major stabilization policy tool in the United States
A) monetary B) fiscal C) exchange rates D) deregulatory
The consumer price index increases from 200 to 208 . What is the inflation rate?
If a family falls below the federal poverty line, ______ considered to be poor.
a. every member over 18 is b. every individual member is c. only the employed members are d. only the children are