The figure above shows the market for college education in the United States. The marginal external benefit associated with educating 14 million students is ________ per student per year
A) $16,000
B) $13,000
C) $11,000
D) $5,000
E) $7,000
D
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In the above figure, the curve labeled A shifts rightward if
A) expected future profits decrease. B) the quantity of money decreases. C) the substitution effect occurs. D) taxes decrease.
Holding everything else constant, a decrease in the price of bicycles will result in
A) an increase in the demand for bicycles. B) a decrease in the supply of bicycles. C) a decrease in the quantity of bicycles demanded. D) an increase in the quantity of bicycles demanded.
Which of the following shows a negative relationship between the output and unemployment gaps?
A) the AS curve B) the Phillips curve C) Okun's law D) the classical dichotomy E) none of the above
Exhibit 8-12 Marginal revenue and cost per unit curves
As shown in Exhibit 8-12, the firm will not produce in the short-run if the price is below:
A. OA. B. OB. C. OC. D. OD.