The slope of a steep upward-sloping line will be a
a. small positive number.
b. large positive number.
c. small negative number.
d. large negative number.
b
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The opportunity cost of hold real money balances is the:
A) interest rate. B) price level. C) all of the above. D) none of the above.
If four electronics companies agree to decrease their production of cell phones and raise the price of their cell phones to $400, this is an example of ________.
A) price fixing B) monopolization C) bid rigging D) market division
The total revenue curve for a perfectly competitive firm
a. is a vertical line intersecting the horizontal axis b. is a horizontal line intersecting the vertical axis c. starts part way up the vertical axis, then slopes upward in a backwards-S curve d. is a straight line starting from the origin and sloping upward e. starts at the origin, sloping upward at first and then sloping downward
An increase in the demand for automobiles will increase the demand for labor used to produce the automobiles due to
a. an increase in the marginal revenue product of labor. b. a decrease in the marginal revenue product of labor. c. an increase in the marginal revenue product of automobiles. d. a decrease in the marginal revenue product of automobiles. e. a decrease in the price of automobiles.