If a competitive firm's marginal profit is positive at an output of 1000 units,
A) at 1000 units, MR = MC.
B) it should produce more than 1000 units.
C) it should produce less than 1000 units.
D) at 1000 units, MR < MC.
B
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Consider a PPF with consumption goods on the horizontal axis and capital goods on the vertical axis. If the country operates on its PPF near its ________ axis, this country ________
A) vertical; will experience greater economic growth B) vertical; will not face opportunity costs C) horizontal; will have a larger chance at economic growth D) horizontal; faces larger trade offs E) vertical; is operating at an inefficient point
Refer to the payoff matrix below. If Best Treats announces that it will introduce the new health snack, Healthy Snacks ________ believe Best Treats as their incentives ________ align.
Healthy Snacks and Best Treats are two firms competing in the health food snacks market. Both are considering introducing a new health food snack made purely of dried power fruits. The payoff matrix shows their net economic profit in millions for the different strategies.
A) should not; do
B) should; do
C) should not; do not
D) should; do not
Considering changes to the monetary base, are discount loans and federal funds borrowing equivalent? Explain.
What will be an ideal response?
Which statement is most accurate?
A. There is virtually no poverty in the U.S. because the standard of living of all Americans has at least tripled since World War II. B. Compared to the average citizens of Bangladesh, Ethiopia, and Zambia, most of our poor would be considered relatively well off. C. Most of those living below the poverty line are homeless. D. As welfare programs are cut back the poverty rate will decline.