Marginal cost curves slope
A) upward because of increasing opportunity cost.
B) upward because of decreasing opportunity cost.
C) downward because of increasing opportunity cost.
D) downward because of decreasing opportunity cost.
A
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A market for a product reaches equilibrium when
A. buyers intend to buy a quantity equal to the quantity that sellers intend to sell. B. the actual quantity bought by buyers equals actual quantity sold by sellers. C. the price rises further after there is a surplus. D. price falls further after there is a shortage.
In the figure above, the poorest 20 percent of households receive ________ of total income
A) 20 percent B) 10 percent C) 5 percent D) 15 percent
The difference between the interest rate on loans to households and firms and the rate on completely safe assets is known as ________
A) the discount rate B) the FICO score C) the credit spread D) the prime rate
After firm A acquired firm B, it lowered the prices for the goods produced by both firms. This can increase profits if the goods are
a. Substitutes b. Complements c. Not related d. None of the above