In a competitive market equilibrium the ________ equals the ________ of the last unit sold
A) total profit; marginal benefit
B) total cost; marginal cost
C) profit; selling price
D) marginal benefit; marginal cost
Answer: D
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One part of the explanation for the persistently high rates of unemployment in Western Europe is:
A. labor market rigidities. B. productivity growth. C. increases in labor supply. D. increases in labor demand.
A capital outflow occurs when:
A. money saved domestically is invested in another country. B. money saved in another country finances domestic investment. C. there is a negative difference between capital inflows and capital outflows for a country. D. there is a positive difference between capital inflows and capital outflows of a country.
If a good is inferior and income increases, then
A. the supply curve will shift to the left. B. the demand curve will shift to the right. C. the demand curve will shift to the left. D. the supply curve will shift to the right.
Relating to the Economics in Practice on page 338: A number of agencies in the federal government, including the EPA, use the social cost of carbon as their internal carbon fee. In 2015, this price they were paying was ________ per ton of carbon.
A. $18 B. $39 C. $62 D. $100