If MPL = 3, and MRTS = -4 what is MPK?
A) 12
B) -12
C) 3/4
D) -3/4
C
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What does the supply curve tell us about the producer's minimum supply price?
What will be an ideal response?
Why are some of the markets that provide information likely to be dominated by monopolies?
What will be an ideal response?
Consider the effect of business cycles on bondholders versus stockholders. We expect that business cycles will affect:
A. stockholders more since they are residual claimants. B. bondholders more since the amount they receive depends on profits. C. bondholders and stockholders about the same. D. bondholders more since they do not have any claim to property.
Assume that an economy experiences both positive population growth and technological progress. In this economy, which of the following is constant when balanced growth is achieved?
A) K B) NA C) K/N D) Y/NA E) none of the above