The figure above shows the competitive market for slices of key lime pie. If the production is 40 slices per day, someone is willing to buy another slice of pie for
A) more than it costs to produce the slice.
B) less than it costs to produce the slice.
C) an amount equal to the cost of producing the slice.
D) an amount equal to the cost of producing all 40 slices.
E) an amount that is not comparable to the cost of producing the slice.
A
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A) 1.33. B) 0.75. C) 3.00. D) 4.00. E) 1.50.
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If you were a Keynesian and wanted to stimulate the economy (to increase real GDP), you would
a. increase the money supply to lower the interest rate in order to increase investment b. increase the money supply to lower the interest rate in order to decrease investment c. decrease the money supply to lower the interest rate in order to increase investment d. decrease the money supply, which causes consumption to increase and saving to fall e. increase the money supply, which causes the interest rate to increase and production to increase as well