Table 7.1 exemplifies the principle of
A) diminishing returns. B) marginal costs.
C) full employment equilibrium. D) real vs. nominal costs.
A
You might also like to view...
Refer to Figure 1A.2. The slope of the curve
A) is positive. B) is negative. C) is zero. D) changes along the curve.
An activity should be undertaken if the marginal benefit of the activity is greater than the marginal cost of the activity
Indicate whether the statement is true or false
The profits of a partnership are
A) taxed as personal income. B) subject to a corporate tax. C) taxed as capital gains indexed for inflation. D) exempt from taxation.
As the percentage of the consumer's income accounted for by a particular good decreases, demand for the good will:
A) tend to become more price elastic. B) tend to become more price inelastic. C) tend to become closer to unit elastic. D) tend toward being perfectly elastic.