If a monopolistically competitive seller's marginal cost is $3.56, the firm will increase its output if
A) its marginal revenue is less than $3.56.
B) its marginal revenue is equal to $3.56.
C) its marginal revenue is more than $3.56.
D) average total cost is less than $3.56.
E) Both answers A and D are correct.
C
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Does the figure above illustrate a recessionary or an inflationary gap? What do potential GDP and real GDP equal? What is an appropriate fiscal policy to restore real GDP to potential real GDP?
What will be an ideal response?
Relations between rich and poor countries is most important in
a. Marx's view of capitalist development b.dualism c. dependency theory d. Rostow's stages of development e. none of the above
Which of the following is true of the production possibilities curve?
What will be an ideal response?
Those that work part-time and do not desire full-time employment are referred to as
A. Employed. B. The phantom unemployed. C. Discouraged workers. D. Underemployed.