The level of an economic activity should be increased to the point where the ____
a. Marginal cost=0
b. Marginal revenue=0
c. Total revenue = Total cost
d. Marginal revenue – marginal cost=0
d
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In the above figure, CBL is the cost of breaking the law. If it is illegal to buy and sell, then the quantity of the good bought and sold will be
A) 100. B) 200. C) 300. D) 400.
The demand curve for a product can be derived from consumer equilibrium by:
a. altering the prices of all other products. b. altering consumer incomes. c. shifting consumer preferences. d. altering the price of the good itself. e. knowing the demand curves for all other products.
The key element in preserving a monopoly is keeping rivals out of the market
a. True b. False Indicate whether the statement is true or false
The central bank of a country usually: a. develops and implements fiscal policy
b. develops and implements monetary policy. c. issues debit and credit cards. d. gives loans to the public.