Refer to the information provided in Figure 23.1 below to answer the question(s) that follow.
Figure 23.1Refer to Figure 23.1. [500 + 0.5Y] is this household's
A. MPC.
B. saving.
C. consumption function.
D. MPS.
Answer: C
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Which one of the following types of cost declines over the whole range of output?
a) total fixed cost b) marginal cost c) average fixed cost d) average variable cost e) total variable cost
When the U.S. price level increases, we would expect a:
A. shift to the left of the aggregate demand curve. B. shift to the right of the aggregate demand curve. C. movement up along the aggregate demand curve. D. movement downward along the aggregate demand curve.
Profit-maximizing extraction companies will attempt to:
A. extract resources as quickly as possible. B. delay extraction as long as possible. C. find rates of extraction that maximize the flow of profits over time. D. extract resources at a constant rate every year to minimize price fluctuations.
Using Scenario 1, calculate the total cost of pollution when both steel companies are allowed to pollute only one million gallons of thermal water each and the right is not transferable or tradable
What will be an ideal response?