A ________ curve shows the marginal cost of producing one more unit of a good or service
A) marginal benefit B) production possibilities
C) supply D) demand
C
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In a corporation, the managers are the stockholders'
A) principals. B) agents. C) level coordinators. D) incentive system.
The World Bank specializes in making loans to
A) industrialized nations. B) communist nations. C) developing nations. D) African nations.
The monopolist determines the price and quantity combination that maximizes short-run profits by
A) finding the quantity at which marginal cost and marginal revenue are equal and then using the demand curve to find price. B) determining the price by finding the highest price at which sales can be made and then using the demand curve to find the appropriate quantity. C) finding the point at which marginal revenue and demand intersect. This gives the price and quantity that maximizes profits. D) finding the quantity at which average revenue and average total cost are furthest apart.
Which of the following is not one of the functions of money?
a. unit of account b. means of deferred payment c. encouraging people to barter d. medium of exchange