For a kinked demand curve, the marginal revenue curve is:
a. positively sloped.
b. a horizontal line.
c. a vertical line.
d. discontinuous.
e. above the demand curve.
d
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Refer to Table 18.1. Russia has a comparative advantage in
A) gloves. B) hats. C) both hats and gloves. D) neither hats nor gloves.
At a price level of 100, John has savings equal to $20,000. If the price level increases to 130, the buying power of John's savings is approximately
A) $26,000. B) $12,780. C) $30,000. D) $20,000. E) $15,400.
A firm possesses too much capital if ________
A) the real rental cost of capital is equal to the marginal product of capital B) the real rental cost of capital is less than the marginal product of capital C) its investment spending exceeds its consumption outlays D) the real rental cost of capital is more than the marginal product of capital
The present value of $1 payable in two years is:
a. $1. b. $1/(1 + 2r). c. $1/(1 – 2r). d. $1/(1 + r)2.