Refer to Figure 8.3. What is marginal cost when output is 200 units?
A. $9
B. $2500
C. $8.62
D. $7.77
A. $9
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Suppose the demand for specialty car license plates is perfectly inelastic and the supply curve for specialty license plates is upward sloping. A tax is imposed on specialty license plates. Which of the following is true?
A) Drivers pay the smallest share of the tax. B) Drivers pay none of the tax. C) Drivers pay all of the tax. D) The government pays all of the tax. E) The government collects nothing in tax revenues.
Which of the following would NOT be a cause for an increased American demand for the Mexican peso?
A) The United States having lower interest rates than Mexico B) Increased American demand for Mexican goods C) The expectation by speculators that the value of the peso is edging up D) More economic expansion in the United States E) None of the above.
If the price of airline tickets falls, what will happen to the demand curve for flight attendants?
a. It will shift to the right. b. It will shift to the left. c. The direction of the shift is ambiguous. d. It will remain unchanged.
If transfer payments increase then we would most likely conclude what about government spending as a result of this increase?
A. Government spending would not change if transfer payments increase. B. We cannot reasonably conclude anything about government spending. C. Since transfer payments have gone up this has caused government spending to increase. D. Since transfer payments have gone up this has caused government spending to decrease.