On a line graph depicting marginal revenue and marginal cost for a monopoly, the marginal revenue line will ___________ while the marginal cost line will ___________.
a. slope downward/slope upward
b. remain flat/slope downward
c. slope upward/remain flat
d. slope upward/slope downward
a. slope downward/slope upward
For a monopoly, marginal revenue decreases (slopes downward) as additional units are sold. The marginal cost curve slopes upward.
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If you place $100 in a bank account that pays 6% at the end of each year, and you leave your $100 and all your interest in the bank, how much will you have in the bank at the end of 7 years with annual compounding?
A) (106)7 B) 7 ? (106) C) 100 ? (1.60)7 D) 100 ? (1.06)7
World output of goods and services increases with specialization because:
A. The world's resources are used more efficiently. B. The production possibilities curve shifts outward for each country. C. The workers in each country work fewer hours per week. D. The infant industries in each country are protected.
There is a technological advance in the production of digital watches. This will cause:
A. demand to increase. B. supply to increase. C. the price to increase. D. supply to decrease.
We began running consecutive annual trade deficits
A. before we began running current account deficits. B. at the same time we began running current account deficits. C. after we began running current account deficits.