Let C = 70 + 0.75y and I = 40. Assume no government or foreign sectors. Investment needs to increase by ________ to increase equilibrium output by a total of $600
A) $30 B) $150 C) $560 D) $600
B
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The national debt is
A) the sum of the personal debt of all citizens in the United States. B) the cumulative effect of all past budget deficits and surpluses of the federal government. C) the difference between a nation's exports and imports of goods and services. D) equal to the current size of the budget deficit.
In this graph, what does point A show?
a. the demand level at the equilibrium quantity and marginal cost
b. the demand level at the equilibrium quantity and profit-maximizing price
c. the average total cost at the profit quantity and marginal cost
d. the average total cost and the profit quantity and profit-maximizing price
Which is an example of a good with an elastic supply?
a. beef b. bananas c. lumber d. click-top pens
BathGroom0675134183222251270
Kaitlyn and Larissa have formed a dog bathing and grooming business. The number of dogs they can bathe or groom in any given day is depicted in Table 2.1. The opportunity cost of grooming the sixth dog in a day is bathing ________ dog(s).
A. 0 B. 5 C. 6 D. 7