The marginal cost of an activity ________ as you do more of it
A) increases
B) decreases
C) doesn't change
D) changes only if the marginal benefit of the activity does not change
E) changes only if the marginal benefit of the activity changes
A
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Suppose the consumer price index (CPI) for a given year is 150 . This means the rate of inflation for the given year is 50 percent
a. True b. False Indicate whether the statement is true or false
With respect to the consumer price index, which of the following serves as an example of how the substitution bias arises? Between 2010 and 2011, the price of a pound of peanuts
a. rises from $0.80 to $1.00 while the price of a loaf of bread rises from $2.00 to $2.50. b. falls from $0.90 to $0.72 while the price of a loaf of bread falls from $2.00 to $1.60. c. remains constant, as does the price of a loaf of bread. d. None of the above serves as an example of how the substitution bias arises.
When the average price level in the United States, relative to the average price level in other countries, falls, this tends to
A. raise imports and exports. B. lower imports and exports. C. raise imports and lower exports. D. lower imports and raise exports.
How does a competitive firm's demand for labor react to a specific tax on each unit of output it sells?
What will be an ideal response?