Refer to the information provided in Table 13.3 below to answer the question(s) that follow. Table 13.3Price ($)Quantity4.001003.502003.003002.504002.005001.506001.00700Refer to Table 13.3. If a monopoly faces the demand schedule given in the table, what is its marginal revenue from the 600th unit it sells?
A. -$1
B. $1
C. $1.50
D. $100
Answer: A
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When the price of a good falls and the prices of other goods and a consumer's income remain the same, explain what happens to the consumption of the good whose price has fallen and to the consumption of other goods
What will be an ideal response?
At the equilibrium real interest rate in the open-economy macroeconomic model, the amount that people want to save equals the desired quantity of
a. net capital outflow. b. domestic investment. c. net capital outflow plus domestic investment. d. foreign currency supplied.
An economy has two workers, Paula and Ricardo. Every day they work, Paula can produce 4 computers or 16 shirts, and Ricardo can produce 6 computers or 12 shirts. What is the opportunity cost for Ricardo to produce one computer?
A. 4 shirts B. ½ shirt C. 2 shirts D. ¼ shirt
The time it takes for an additional dollar of net government expenditures to work its way through the economy and have its full effect
A) is about one quarter of a year. B) is between one and two years. C) is not yet known precisely because little empirical research has been done on the question. D) probably cannot be predicted from an examination of historical data.