Considering the information in the table shown, if Jack consumes 3 popsicles and 1 ice cream cone, then:
This table shows the different combinations of goods that Jack can consume, given that his income to spend on these two items is $10.
A. Jack still has $5 left to spend.
B. the price of ice cream must have increased to $8.
C. the price of popsicles must have decreased.
D. None of these is true.
A. Jack still has $5 left to spend.
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What will be an ideal response?
The figure above shows a firm in a perfectly competitive market. The firm will shut down if price falls below
A) P1. B) P2. C) P3. D) P4.
Which of the following is the long-run outcome for monopolistic competition?
A. P > ATC > MC. B. P = AVC. C. P = ATC. D. MR > MC.
The open economy multiplier will increase if
A. the MPM increases. B. the MPC increases. C. the MPM decreases. D. either the MPM or the MPC increases.