These are the cost and revenue curves associated with a monopolistically competitive firm.
According to the graph shown, area C represents:
A. consumer surplus.
B. deadweight loss.
C. profits.
D. producer surplus.
Answer: A
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The ________ the marginal tax rate, the ________ the effect on aggregate expenditure from a change in investment
A) smaller; smaller B) smaller; larger C) larger; smaller D) larger; larger E) More information about the effect on GDP is needed to answer the question.
The percentage of the population that lived in urban areas rose from approximately 5% in 1790 to 40% in 1860
Indicate whether the statement is true or false
The market labor-supply curve is:
A. downward sloping. B. perfectly inelastic. C. perfectly elastic. D. upward sloping.
According to Okun's law, if output increased by 15 percent, unemployment should decrease by 3 percent.
Answer the following statement true (T) or false (F)