Refer to Table 11-7. What is the marginal cost per unit of production when the firm produces 100 lanterns?
A) $420 B) $32 C) $11.1 D) $8.1
B
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In economics, what is the difference between the short run and the long run?
What will be an ideal response?
If, due to rising demand, the price of cotton rose 10 percent while the prices of other goods and services rose an average of 15 percent,
a. the relative price of cotton has risen and one would expect the output of cotton to rise as a result. b. the relative price of cotton has risen and one would expect the output of cotton to fall as a result. c. the relative price of cotton has fallen and one would expect the output of cotton to rise as a result. d. the relative price of cotton has fallen and one would expect the output of cotton to fall as a result.
There is a permanent underclass totaling about _____% of our population.
Fill in the blank(s) with the appropriate word(s).
The flatter the planned investment schedule (curve)
A) the smaller is the change in planned investment as a result of changes in the interest rate. B) the smaller is the crowding-out effect. C) the larger is the crowding-out effect. D) the larger is the change in money demand as a result of changes in the interest rate.