If the income-consumption path slopes down, then:
A. both goods are inferior.
B. both goods are normal.
C. one good is normal and the other good is inferior.
D. we can't tell anything about whether the goods are normal or inferior.
C. one good is normal and the other good is inferior.
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A firm in monopolistic competition has some degree of price-setting power because
A) in the long run it earns a normal profit. B) it can never earn less than normal profit. C) the price it charges is never more than its marginal cost. D) if it raises its price, the quantity it can sell will not decrease to zero.
Fixed costs are
a. costs that vary with output b. always equal to marginal costs c. costs that do not vary with output d. equal to total costs
Refer to the data provided in Table 10.1 below to answer the following question(s).
Table 10.1 
Refer to Table 10.1. The marginal revenue product of the ________ worker is $150.
A. second B. third C. fourth D. fifth
In the growth debate, critics of economic growth say that it will deplete our finite economic resources.
a. true b. false