Marginal profit equals the difference between marginal revenue and average cost
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose that real GDP is initially $14 trillion and the government attempts to increase real GDP to $15 trillion. The marginal propensity to consume is 0.8, and every $1.00 increase in real government spending crowds out $0
50 in real planned investment expenditures. Which increase in government spending below could yield the desired level of real GDP? A) $200 billion B) $125 billion C) $100 billion D) $400 billion
Refer to Figure 2-1. ________ is (are) unattainable with current resources
A) Point A B) Point B C) Point C D) Points A and C
A consumer values a car at $525,00 . and a producer values the same car at $485,000 . If the transaction is completed at $510,000 . what amount of tax will result in unconsummated transaction?
a. A tax of $9,000 b. A tax of $14,000 c. A tax of $15,000 d. A tax of $18,000
A kinked demand curve is associated with
a. perfect competition. b. monopolistic competition. c. an oligopoly. d. public utilities.