Refer to the table above. What is the firm's marginal cost when it produces 55 units of the good?
A) $0.33
B) $0.50
C) $0.66
D) $0.75
A
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Suppose the market for a good is initially in equilibrium. Which of the following is most likely to happen if supply increases by a smaller amount than the increase in demand?
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There is a positive relationship between two variables if
A) neither variable moves. B) they move in the same direction. C) they move in opposite directions. D) one variable changes and the other does not.
An ideal voting system must not have:
A. a person who has the power to single-handedly enact his or her own preferences. B. a person who can convince everyone to vote for his or her preferences, and not their own. C. a one-dimensional issue being voted on. D. transitivity of preferences
In the short run,
a. spending determines income, but not the other way around b. income determines spending, but not the other way around c. spending determines the interest rate, but not the other way around d. spending determines income, and income determines spending e. spending determines the productivity, and productivity determines spending.