At relatively high levels of disposable income
A. both the APC and APS are high.
B. both the APC and APS are low.
C. the APC is high and the APS is low.
D. the APC is low and the APS is high.
D. the APC is low and the APS is high.
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Why does a single-price monopoly produce a smaller output and charge more than the price that would prevail if the market were perfectly competitive?
What will be an ideal response?
Which of the following would be studied in macroeconomics?
a. a drop in the price of personal computers b. an individual household's decision on how to allocate its spending power c. a rise in employment in movie theaters across the nation d. total output in the nation e. a local bank's increase in the interest rate offered on savings deposits
In which of the following externality situations would it be most likely that voluntary agreements could be used to internalize an externality?
A) littering on highways B) overharvesting of alligators in Louisiana C) poaching of elephants in Africa D) trees of one neighbor blocking a view of another
If a one-year bond is purchased for $400 and the interest rate is 8 percent, what will it pay in one year?
A) $48 B) $368 C) $400 D) $432