If consumption is defined as C = 2,000 + 0.8Y, then the marginal propensity to save is 0.8
Indicate whether the statement is true or false
FALSE
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A nonexcludable public good is
A. nonrivalrous in consumption. B. rivalrous in consumption. C. asymmetric. D. a good for which it is impossible (or prohibitively costly) to exclude someone from receiving the benefits of its services. E. a and d
Consider Figure 6.4 in your textbook, as indicated below. If the equation for the demand curve were P = 10 - Q and MC constant at 4,
(a) Find the competitive level of output and price.
(b) Find the marginal revenue and derive the rent seeking cartel's of output and price.
(c) How much rent is being raised?
The price charged by a profit-maximizing monopolist occurs at:
A.) The minimum of the average total cost curve. B.) The price where marginal cost equals marginal revenue. C.) A price on the demand curve above the intersection where marginal revenue equals marginal cost. D.) A price on the average cost curve below the point where marginal revenue equals marginal cost.
Expenditures for services such as tourism, income for foreign investment, and foreign gifts are tabulated in the:
A. current account. B. capital account. C. official reserve account. D. goods account.