What is one reason consumers might demand a discount for quantity purchases?
A) higher storage costs
B) lower marginal cost
C) lower marginal benefit
D) price gouging
A
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Because the consumer's budget is limited, purchase decisions among available goods must of necessity be interdependent
a. True b. False Indicate whether the statement is true or false
If the terms of trade between any two countries lie somewhere between their respective opportunity costs, then the effects of trade will include
A. An expansion of the production possibilities for both countries. B. Less interdependence between the economies of the two countries. C. Consumption outside the production possibilities curve for both countries. D. Less output for both countries.
Refer to Figure 12-10. The total cost at the profit-maximizing output level equals
A) $4,800. B) $3,300. C) $2,500. D) $1,800.
If the dollar appreciates and the U.S. AD curve shifts _______________ by an amount less than the U.S. SRAS curve shifts __________________, then Real GDP will _________________________
A) rightward; leftward; increase B) rightward; leftward; decrease C) leftward; rightward; increase D) leftward; rightward; decrease