Total fixed cost
a. varies with the level of output.
b. has a downward-sloping curve.
c. has an upward-sloping curve.
d. is constant at all levels of output.
d
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Indefining environmental risk, exposure refers to the
a. source of environmental damage and the benefits of eliminating the damage b. pathway between the source of the environmental damage and the affected population c. pathway between the source of the environmental damage and the affected natural resource d. all of the above e. (b) and (c) only
Based on the graph showing rational expectations and the AD/AS model, expansionary policies will cause ______.
a. a move to a lower point on the aggregate demand curve
b. a move to a higher point on the aggregate demand curve
c. the aggregate demand curve to shift to the left
d. the aggregate demand curve to shift to the right
Derrick owns and operates a bakery. Every Saturday he bakes a batch of fresh kolaches, and every Saturday he sells all the kolaches and has to turn some customers away. Which of the following statements is correct?
A. At the current price, quantity demanded exceeds quantity supplied. B. The current price is higher than the equilibrium price. C. If Derrick lowered the price of kolaches, the shortage would increase. D. both a and c E. all of the above
Refer to the above table. What is the marginal utility for the 10th unit for Michael and for Rosie?
A. Michael: 10; Rosie: 10 B. Michael: -10; Rosie: 10 C. Michael: 15; Rosie: 20 D. Michael: 50; Rosie: 50