What is the marginal revenue from producing the fourth unit?
a. 90
b. 50
c. 20
d. 180
b
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When tax revenues equal government outlays, the situation is referred to as
A) an equivalent budget. B) a balanced budget. C) an equal budget. D) a legal budget. E) an equilibrium budget.
The immediate, direct effect of someone's cashing a check at a commercial bank is
A) a decrease in the stock of money (M1). B) an increase in the stock of money (M1). C) no change in the stock of money. D) unknown until the check casher spends the currency withdrawn from the bank.
The opportunity cost of using one’s own savings in operating a business can be determined by using
a. wage rates. b. interest rates. c. exchange rates. d. rental rates.
In a static game, firms
A) compete multiple times until there is a winner. B) compete only once. C) must have complete information. D) act sequentially.