When a computer firm is producing a level of output at which MC is greater than price, from society's standpoint the firm is producing too
A. Little because society would be willing to give up more alternative goods in order to get additional computers.
B. Little because society is giving up more to produce additional computers than the computers are worth.
C. Much because society would be willing to give up more alternative goods in order to get additional computers.
D. Much because society is giving up more to produce additional computers than the computers are worth.
Answer: D
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The dollar appreciates against the euro when U.S. demand for European goods increases
a. True b. False Indicate whether the statement is true or false
The Federal Reserve System
A. regulates not only banks but some of the other financial institutions. B. is directly controlled by the President. C. regulates all financial institutions in the United States. D. controls the fiscal policy of the federal government.
If the market price for a good produced by a price taking firm is $5, the firm's total revenue is
A. downward sloping. B. a flat line at P=$5. C. an upward sloping line beginning at the origin and having a slope of 5. D. parabolic.
Income decreases cause a decrease in a household's choice set.
Answer the following statement true (T) or false (F)