A move from G to H represents
A. a change in quantity supplied.
B. no change in supply.
C. an increase in supply.
D. a decrease in supply.
D. a decrease in supply.
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The United States is one of the least “marketized” economies in the world.
Answer the following statement true (T) or false (F)
Answer the following statement(s) true (T) or false (F)
1. Marginal Revenue measures the slope of the Demand curve. 2. Marginal Cost measures the slope of the total cost and total variable cost curves. 3. The Marginal Benefit of consuming an additional unit of a good tends to increase as the number of units consumed increases. 4. If a firm increases production from 120 units to 130 units, then its Marginal Revenue is 10.
Hurricane victims in the United States are likely to receive emergency relief aid and embark upon reconstruction more rapidly than similar victims in India because
A) U.S. victims typically need the resources more than the victims in India. B) the U.S. economy has a more clearly defined set of property rights compared to the Indian economy. C) people in the U.S. are typically more charitable than people in India. D) the global economy is too dependent on the U.S. to let it falter.
When Scuba, Inc, lowered the price of a tank of compressed air by 20 percent, it sold 10 percent more tankfuls. The price elasticity for compressed air is
a. 2. b. 1/2. c. 1. d. 20.