The rising part of a perfectly competitive firm’s ________ cost curve is the firm’s short run _________ curve.
A) average total; supply
B) average variable; demand
C) average fixed; demand
D) marginal; supply
D) marginal; supply
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If all prices rise by 5 percent and money income remains constant, the new budget line will have
A) a steeper slope. B) a flatter slope. C) a positive slope. D) the same slope.
In Nebbia v New York (1934), the doctrine of Munn v Illinois (1877)
(a) was held to be irrelevant. (b) was upheld for all cases. (c) was upheld for interstate commerce. (d) was overturned explicitly.
Interest rates typically rise when
A) bond prices increase. B) bond prices decrease. C) the coupon payout on existing bonds increase. D) the maturity date on existing bonds extends farther into the future.
Launching the simplified version would be a mistake for probabilities less than ___?
a. 0.6 b. 0.7 c. 0.8 d. 1.0