At a profit-maximizing output level,
A. marginal revenue minus marginal cost equals zero.
B. marginal profit equals zero.
C. the slope of the total profit curve is zero.
D. All of the responses are correct.
Answer: D
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The potential for recipients of a loan to engage in riskier behavior after receiving the financing is called
A) adverse selection. B) moral hazard. C) adverse hazard. D) moral selection.
Refer to Figure 4-1. Arnold's marginal benefit from consuming the third burrito is
A) $1.25. B) $1.50. C) $2.50. D) $6.00.
In terms of price indexes, what is a COLA?
a. A measure of the quality of living b. A consumer price adjustment c. An increase in wages designed to match consumer price increases d. An estimate of gross domestic product e. A measure of producer surplus
When comparing the percentage of income (or expenditure) of the lowest and highest 10 percent of the population,
a. South Africa has a more equal income distribution than the United States. b. South Africa has a more equal income distribution than Japan. c. Japan has a more equal income distribution than the United States. d. Mexico has a more equal income distribution than Germany.