The marginal cost curve of a firm measures
A) external costs.
B) pollution costs.
C) private costs.
D) social costs.
Answer: C
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Which industry would be best characterized as monopolistically competitive?
A. business cloud-computing services B. smart-phone manufacturing C. web design consulting D. Internet-search sites
The Fed raises the federal funds rate. Which of the following changes occurs most rapidly?
A) Exchange rate rises. B) Consumption expenditure decreases. C) Aggregate demand decreases. D) Real GDP growth decreases. E) Inflation rate decreases.
____ mean that the costs involved cannot be recouped for a considerable period of time.
A. Sunk costs B. Opportunity costs C. Overheads D. Restructuring costs
Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.
Figure 6.2Refer to Figure 6.2. Mr. Lingle's budget constraint is AC. Point E is
A. not in Mr. Lingle's opportunity set but is on his budget constraint. B. an available option and Mr. Lingle does not spend all of his income. C. an available option and Mr. Lingle exactly spends all of his income. D. not available because it represents a combination of gardenburgers and beer that Mr. Lingle cannot purchase with his current income.