If a consumer is indifferent between 5 units of A and 8 units of B, then the consumer would:
a. also be indifferent between 4 units of A and 9 units of B.
b. also be indifferent between 8 units of A and 5 units of B.
c. prefer 6 units of A and 8 units of B.
d. give up 1 unit of A if he/she could acquire 2 units of B.
e. not trade product A in exchange for any units of product B.
c
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If a firm sells its output at a price greater than AC, it will earn economic profit
a. True b. False Indicate whether the statement is true or false
When economists say that health care services are over-consumed, they mean that
If you earned an additional $1,000 of taxable income and paid $220 in taxes on that income, what would your marginal tax rate be?
What will be an ideal response?
A. $4 or less. B. $3.90 or less. C. $3.50 or less. D. $3.40 or less
A. $1 or less. B. $.75 or less. C. $1.75 or less. D. $2 or less.