Assuming P is calculated in dollars, how much do hamburgers and milkshakes cost?
a. hamburgers: $1.00; milkshakes: $1.00
b. hamburgers: $1.00; milkshakes: $2.00
c. hamburgers: $2.00; milkshakes: $1.00
d. hamburgers: $2.00; milkshakes: $2.00
c. hamburgers: $2.00; milkshakes: $1.00
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The figure above shows Sam's budget line. Why will Sam not purchase 36 gallons of gasoline and 4 pounds of coffee?
A) because he does not like this combination B) because this combination does not contain enough coffee to satisfy him C) because this combination contains more gasoline than his gasoline tank will hold D) because he cannot afford this combination
Use the intertemporal budget constraint — equation (2 ) — to explain how an increase in the real interest rate causes two distinct effects, an income effect and a substitution effect,
and how those effects differ depending on whether the consumer is a saver or a borrower.
Which of the following could explain a decrease in the equilibrium interest rate and an increase in the equilibrium quantity of loanable funds?
a. The demand for loanable funds shifted rightward. b. The demand for loanable funds shifted leftward. c. The supply of loanable funds shifted rightward. d. The supply of loanable funds shifted leftward.
What is the marginal net benefit associated with producing five units of the control variable, Q (identify point F in the table)?Control variableTotal BenefitsTotal CostsNet BenefitsMarginal BenefitMarginal CostMarginal Net BenefitQB(Q)C(Q)N(Q)MB(Q)MC(Q)MNB(Q)0000---190010080090010080021,700300C80020060032,4006001,800700E4004A1,0002,00060040020053,5001,5002,000500500F63,9002,1001,800D600-20074,2002,8001,400300700-40084,400B800200800-60094,5004,5000100900-800104,5005,500-1,00001,000-1,000
A. -100 B. -75 C. 100 D. 0