A firm can sell 14 units at $18, but to sell 15 units, the firm must cut the price to $17. The marginal revenue derived from selling the 15th unit is
A. -$18.
B. 0.
C. $3.
D. $17.
C. $3.
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When the price of popcorn falls, before there is any change in consumption, the
A) marginal utility of popcorn definitely increases. B) marginal utility per dollar from popcorn definitely increases. C) total expenditure on popcorn definitely rises. D) entire total utility of popcorn curve definitely shifts rightward.
Using Figure 3 below, suppose that the economy was at Y1. This level of GDP would be considered:
A. inflationary.
B. recessionary.
C. a long run level of output.
D. a natural rate of output.
Proponents and opponents of balanced-budget policies agree that the government debt cannot continue to increase forever
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. If the price per cheeseburger is $8, the price will
A. remain constant because the market is in equilibrium. B. increase because there is an excess supply in the market. C. decrease because there is an excess demand in the market. D. decrease because there is an excess supply in the market.