The marginal cost curve
A) shows the maximum price that a producer must receive to induce it to produce a unit of a good or service.
B) shows the minimum price sellers must receive to produce a unit of a good or service.
C) is the same as the demand curve.
D) shows what buyers are willing to give up to get one more unit of a good or service.
B
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Southern agriculture differed markedly from agriculture in the rest of the country before the Civil War in each of these respects EXCEPT
A. it had, on the average, larger farms. B. it had slavery. C. it had different major crops. D. it had more subsistence farming.
Suppose the 12-month interest rate on a U.S. Treasury bill is 16 percent, and the one-year interest rate on a comparable British Treasury bill is 6 percent. The exchange rate today is $2.00 per pound. What must be the expected exchange rate at maturity for interest rate parity to hold?
a. $1.00 = 0.50 pound b. $1.00 = 0.75 pound c. 1 pound = $2.20 d. 1 pound = $1.80 e. 1 pound = $2.50
In a repeated? game, deterring entry
A) is not possible.
B) is not a rational strategy if money is lost fighting the first potential entrant.
C) may require losing money fighting the first potential entrant.
D) cannot form a subgame perfect Nash equilibrium.
Acres of LandTanks of FertilizerTruckloads of Potatoes2002820170202105203135204152205141
Refer to Table 2.4. The principle of diminishing returns sets in with the addition of the ________ tank of fertilizer.
A. second B. third C. fourth D. fifth