Figure 5-17
Which of the following statements about Figure 5-17 must be correct?
a.
The consumer pays a higher dollar price per unit for good Y at A than at D.
b.
The consumer pays the same dollar price per unit for good Y at A and at B.
c.
The consumer pays a higher dollar price per unit for good X at D than at A.
d.
The consumer pays a higher dollar price per unit for good X at A than at C.
b
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The short-run supply curve for a perfectly competitive firm is the
A. segment of the AVC curve lying to the right of the MC curve. B. segment of the MC curve lying at and above the AVC curve. C. entire MC curve. D. segment of the MC curve lying below the AVC curve.
Your U.S.-based company is selling parts to a company in Bangladesh. If you require payment in US$
A) the Bangladeshi company bears the exchange rate risk. B) your company bears the exchange rate risk. C) the companies share in the exchange rate risk. D) there is no exchange rate risk.
Potential GDP refers to the quantity of output that an economy can produce with full employment of its labor and physical capital
a. True b. False Indicate whether the statement is true or false
The opportunity cost of more consumption of goods today is
A. fewer capital goods in the future. B. more capital goods today. C. lower consumption of goods in the future. D. more unemployment both today and in the future.