Jayanthi moves her yoga studio from her home to a space she rents in Oakland, California. Holding everything else constant, as a result of this move
A) her implicit cost falls and her explicit cost rises. B) her opportunity cost rises.
C) her economic cost rises. D) her explicit cost falls and her implicit cost rises.
A
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The concept of minimizing the number of physical units of the inputs needed for a given amount of output is known as
a. technical efficiency. b. the principle of diminishing marginal returns. c. economic efficiency. d. decreasing returns to scale.
For a firm with market power, advertising expenditures affect all of the following except which one?
A) demand curve B) fixed cost C) marginal cost D) total cost
Within the Keynesian aggregate expenditures model, if the economy is below equilibrium, then there will be:
a. an increase the demand for goods and services. b. an increase in real GDP. c. lower interest rates, which will stimulate aggregate demand and keep the economy at full employment. d. a lower price level, which will quickly guide the economy to full-employment equilibrium.
Using indifference curve analysis, you can identify the point at which a consumer maximizes utility where the slope of the:
A. indifference curve is equal to the slope of the budget constraint. B. indifference curve is greater than the slope of the budget constraint. C. indifference curve is -1. D. budget line is -1.