[Appendix material: calculus required] Suppose total benefits and total costs are given by B(Y) = 150Y ? 10Y2 and C(Y) = 5Y2. Then marginal costs are:
A. 2.5Y.
B. 5Y.
C. 10Y.
D. 25Y.
Answer: C
You might also like to view...
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________.
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
The World Bank was formed in
A) 1930. B) 1960. C) 1945. D) 1918.
If a person wishes to maximize their satisfaction from the consumption of a free product, they should consume until
A. marginal utility is maximized. B. marginal utility is equal to total utility. C. total utility is equal to zero. D. marginal utility is equal to zero.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.