Refer to the data. If the marginal cost of producing this good at the optimal quantity is $4, the optimal quantity must be:
Answer the question on the basis of the following information for a public good. P a and P b are the prices that individuals A and B are willing to pay for the last unit of a public good, rather than do without it. These people are the only two members of society.
A. 1 unit.
B. 2 units.
C. 3 units.
D. 4 units.
C. 3 units.
You might also like to view...
If the government passes a law requiring sellers of mopeds to send $200 to the government for every moped they sell, then
a. the supply curve for mopeds shifts downward by $200. b. sellers of mopeds receive $200 less per moped than they were receiving before the tax. c. buyers of mopeds are unaffected by the tax. d. None of the above is correct.
Ariana withdrew $400,000 out of her personal savings account and used it to start her new Internet cafe. The savings account pays 3 percent interest per year. During the first year of her business, Ariana sold 2,000 cups of coffee for $2.50 per cup and 4,000 hours of Internet time, also at $2.50 per hour. During the first year, the business made monetary outlays of $9,000 . You may assume that
there is no opportunity cost to Ariana's time. Ariana's accounting profit for the year was a. $-394,000. b. $-6,000. c. $6,000. d. $12,000.
Expansionary fiscal policy definitely raises the exchange rate.
Answer the following statement true (T) or false (F)
According to the text, what is the largest source of earned income for U.S. households?
A. Wages and salaries. B. Corporate profits. C. Proprietors' income. D. Interest.