According to the graph shown, consumer surplus is:
A. $72.
B. $36.
C. $120
D. None of these.
Answer: B
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Indicate whether the statement is true or false
_____________ is defined as firm's ability to earn above-average profit
a. Resource heterogeneity b. Superior performance c. Competitive advantage d. Sustainable advantage
The federal funds rate is the interest rate charged by:
a. banks for loans to other banks. b. the Fed for overnight loans. c. the Fed for borrowed reserves. d. the federal government on loans to member banks.
A firm will begin to experience diminishing returns at the point where
A) marginal cost increases. B) marginal cost decreases. C) marginal product increases. D) Both B and C