If the marginal product of capital doesn't change as the amount of capital increases, a figure showing the relationship between output and capital
A) is a straight line with constant upward slope.
B) is a straight line with a slope of zero.
C) is a vertical line.
D) slopes upward with a slope that declines as the amount of capital increases.
A
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What particular characteristic do public goods and common resources have in common?
What would happen in an economy if total planned production exceeded total planned real expenditures?
A. Inventories would accumulate, and firms would tend to lower prices. B. Inventories would be depleted, and firms would tend to raise prices. C. Inventories would accumulate, and firms would tend to raise prices. D. Inventories would be depleted, and firms would tend to lower prices.
Betty is maximizing her satisfaction from spending her budget on two items, movie rentals and music downloads. If her marginal utility from the last movie rental is twice that from the last music download, what is the price of a movie rental if the price of a music download is $.80?
A. $0.40 B. $0.80 C. $1.20 D. $1.60
The U.S. Customs Service reclassified imports of compact trucks (like the Toyota Tacoma) from "cab and chassis with some final assembly needed" to "complete or unfinished trucks." As a result of this reclassification, a tariff of _____ was applied, and U.S. prices of Japanese compact trucks rose by _____.
a. 25%; 25% b. 25%; more than 25% c. 25%; less than 25% d. 4%; more than 4%