In Figure 1 below if the economy were at Y1 then we would expect there to be:
A. an increase in production since PAE < actual output.
B. an increase in production since PAE > actual output.
C. no change in production since PAE = actual output.
D. a decrease in production since PAE > actual output.
B. an increase in production since PAE > actual output.
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Which of the following is a thrift institution? i. a credit union ii. the Fed iii. a savings bank
A) i only B) ii only C) iii only D) Both i and iii E) i, ii, and iii
The price paid by buyers in a market will decrease if the government
a. increases a binding price floor in that market. b. increases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. All of the above are correct.
Why are there two plants run by one firm that produce large commercial aircraft and thousands of plants run by hundreds of firms that produce ready-mix concrete? Explain in terms of economies of scale
Please provide the best answer for the statement.
Within the range of prices around the midpoint on a straight-line demand curve, demand is
A) elastic. B) inelastic. C) unit-elastic. D) zero.