Marginal cost:
a) is always less than price.
b) is the minimum price a producer to cause him to offer one more unit of a good for sale.
c) decreases as more is produced.
d) may be negative.
e) is greater than price
Ans: b) is the minimum price a producer to cause him to offer one more unit of a good for sale.
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Based on the production and revenue data in the above table, if the wage rate is $35 per worker, how many workers will be hired?
A) 5 B) 4 C) 3 D) 2
Other things the same, an increase in the price level causes the interest rate to
a. increase, the dollar to depreciate, and net exports to increase. b. increase, the dollar to appreciate, and net exports to decrease. c. decrease, the dollar to depreciate, and net exports to increase. d. decrease, the dollar to appreciate, and net exports to decrease.
Shift to the left or right for supply: number of sellers decreases
What will be an ideal response?
How do taxation and user charges compare as government revenue sources?
A) Each generates about the same amount of government revenue. B) Revenues from taxation are much greater than revenues from user charges. C) User charges generate much more revenue than do taxes. D) We don't know because the government does not publish revenue figures broken down.