Use the following graph to answer the question below.
The quantity where marginal benefit equals marginal cost is
A. 290.
B. 200.
C. 130.
D. 0.
Answer: B
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If a firm's marginal cost exceeds its average cost, then its average cost must be rising
a. True b. False Indicate whether the statement is true or false
As exit from a perfectly competitive industry that is currently unprofitable pushes up the market price, producers will move from a situation where price ____ average total cost to one where price ____ average total cost. a. exceeds; equals
b. is less than; equals. c. equals; is less than. d. equals; exceeds.
Increased uncertainty and pessimism about the future of the economy lead firms to desire less investment spending which shifts the aggregate-demand curve to the left
a. True b. False Indicate whether the statement is true or false
Explanations for the high precautionary savings in China includes all of these except:
A. lifetime employment and guaranteed state pensions. B. China's limited social safety net provides most people with little protection against health problems and medical costs. C. higher prices for things such as housing and education. D. the many uncertainties associated with changing economic institution and society as a whole.