For demand to exist, there must be
a. a desire and an ability to buy.
b. a supply of the product in the market.
c. a price that is low enough to permit all consumers to afford the product.
d. All of these.
a. a desire and an ability to buy.
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Using the data in the above table, when output increases from 4 to 9 units, the marginal cost of one of those 5 units is
A) $4.00. B) $4.25. C) $5.00. D) $6.25.
Read Eye on the Benefit and Cost of School on p. 15 and explain why both you and Clayton Kershaw made the right decision
What will be an ideal response?
Assume that Colombia can produce 1,000 pounds of coffee in one day or produce 200 pounds of bananas in one day. In addition, assume that Ecuador can produce 300 pounds of coffee in one day or produce 100 pounds of bananas in one day. Which country has
the comparative advantage in coffee and which has the comparative advantage in bananas? Determine a pattern of trade regarding these countries and these goods that would benefit both countries.
The agency responsible for regulating the U.S. monetary system is the
a. U.S. Treasury b. Federal Reserve c. Department of Justice d. Federal Trade Commission