If a monopolist lowers its price to increase sales from 100 to 200 units, then the
a. price at the 200th unit will be less than the marginal revenue of the 200th unit
b. price at the 100th unit will be greater than the marginal revenue of the 200th unit
c. profit earned producing 200 units will be greater than the profit earned producing 100 units
d. price at the 200th unit will be greater than the marginal revenue of the 200th unit
e. profit earned producing 100 units will be greater than the profit earned producing 200 units
D
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Total fixed cost is frequently referred to as
a. overhead. b. depreciation. c. opportunity cost. d. marginal cost.
The Fed pledged to continue QE3 until:
A) inflation got out of control B) real GDP and employment returned to more normal levels C) the financial crisis was over D) it was time to begin QE4
The marginal rate of technical substitution always equals
A) the slope of the total product curve. B) the ratio of the marginal products of inputs. C) the change in output due to a change in the amount of one input. D) the distance between two isoquants.
Ginger quits her job as personal secretary to the Vice President of HR Technologies because she cannot handle the stress. It takes her three weeks to find a job as a receptionist at Mariam Hotels and Resorts. Over these three weeks, she would be considered frictionally unemployed
a. True b. False Indicate whether the statement is true or false