The property of diminishing marginal rate of substitution follows from the property that the indifference curve is
A) downward sloping.
B) upward sloping.
C) bowed in toward the origin.
D) bowed out from the origin.
C
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Which of the following relationships exists in first-degree price discrimination?
A. D=MR B. MR=ATC C. MC=ATC D. D=MC
In late 2007 and early 2008, concerns about financial institutions led the Fed to
A) create special lending facilities. B) raise the target for the fed funds rate. C) increase reserve requirements. D) pay interest on bank reserves.
In a perfectly competitive market, firms take:
a. the money wage as exogenous, the price level as endogenous. b. the money wage and price level as exogenous, the quantity of labor as endogenous. c. the money wage and price level as endogenous. d. the quantity of labor as exogenous.
The idea of a carbon tax makes more sense at the ________ level because it is ________.
A. individual; easier to monitor B. corporate; easier to monitor C. individual; going to have a larger impact D. corporate; going to have a larger impact