Use the following graph of the market for milk to answer the question below.
If 30 million gallons of milk are being produced, then we know marginal benefit
A. is less than marginal cost.
B. and marginal cost do not depend on the quantity.
C. is greater than marginal cost.
D. equals marginal cost.
Answer: A
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When drawn against the real interest rate, the output supply curve unambiguously shifts to the right if
A) current capital decreases. B) current total factor productivity decreases. C) future total factor productivity decreases. D) current or future taxes increase.
Consumer equilibrium is a condition in which total utility cannot increase by spending more of a given budget on one good and spending ____ on another good
a. an equal amount b. more c. less d. zero
Why must caution be employed in comparing stock indexes across countries?
What will be an ideal response?
Consider a world of two countries producing only wheat and cloth. In one hour, residents of Country A can produce 1 unit of wheat and 0.5 unit of cloth, whereas residents of Country B can produce 0.3 unit of wheat and 0.4 unit of cloth. Country A should export
A. wheat and cloth; country B should not export anything. B. cloth and country B should export wheat. C. nothing and country B should export both wheat and cloth. D. wheat and country B should export cloth.