In the above figure, curve b shows the
A) bottles of soda that people are willing to forgo to get another bicycle.
B) bottles of soda that people must forgo to get another bicycle.
C) benefits of producing more bicycles is greater than the benefits of producing more soda.
D) benefits of producing more soda is greater than the benefits of producing more bicycles.
A
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Suppose that the total production of an economy consists of 4 oranges and 10 candy bars, each orange sells for $0.25, and each candy bar sells for $0.50. What is the market value of production in this economy?
A. $6.00 B. $5.00 C. $0.75 D. $1.00
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
Use the graph below to identify: (a) break-even points; (b) the profit-maximizing level of output; and, (c) letters showing largest difference between total revenue and total costs and the output level
What will be an ideal response?
To encourage people to retire later, the government could:
A) engage in a public service campaign explaining the value of these employees to the encourage people to retire later, the government could: economy. B) lower Social Security benefits. C) increase Social Security benefits. D) raise the tax rate on older individuals.