Studying the effects choices have on the individual markets within the economy is part of
A) scarcity.
B) microeconomics.
C) macroeconomics.
D) incentives.
B
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When a monopolist faces a fixed marginal cost of production, profit is maximized if:
a. the slope of the tangent to the total revenue curve is equal to the slope of the total cost curve. b. the slope of the total cost curve is 1. c. the marginal revenue is zero. d. the slope of the tangent to the total revenue curve is equal to the slope of the marginal revenue curve.
The present value of a property is the
a. loanable funds used to purchase the property b. profit earned by landlords c. value today of the stream of returns a property will generate in the future d. interest rate divided by the annual return of a property e. rent derived from owning the property
The most important determinant of the decisions to lend or borrow is the real rate of interest
a. True b. False Indicate whether the statement is true or false
When one company is the sole seller of certain products in a market, it is called a:
A. government exclusive. B. monopoly. C. manipulation of the market. D. conglomerate.