Price discrimination can be profitable if consumers can resell the product.
Answer the following statement true (T) or false (F)
False
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A firm is most likely to experience economies of scale if its start-up costs are high and its marginal cost is ________.
A. high B. low C. decreasing D. increasing
The table below shows the marginal benefit and marginal cost of purchasing an additional unit of 3 different public goods. Marginal benefitMarginal costTotal spending on the public goodPublic good 1$20$20$1,500Public good 2$15$25$800Public good 3$10$5$700 Total economic surplus could be increased by reallocating total spending away from
A. public good 2 toward public good 3. B. public good 2 toward public good 1. C. public good 1 toward public good 3. D. public good 3 toward public good 1.
Use the following graph, which shows an aggregate demand, to answer the next question.
If the economy is at point C and the price level increases by 100, then the real balances, interest-rate, and foreign purchases effects will ________.
A. shift the AD curve to the left B. move the economy to point A C. move the economy to point B D. move the economy to point D
As price rises, the quantity ______________ rises.
A. demanded B. supplied C. demanded and supplied