Which of the following will cause a direct increase in consumption spending?
A) a decrease in net export spending B) an increase in planned investment
C) an increase in disposable income D) an increase in government spending
C
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As long as the market sets prices above marginal costs, production will be efficient.
Answer the following statement true (T) or false (F)
In the above figure, when the efficient quantity is produced the marginal social cost of the last magazine is
A) $1. B) $3. C) $5. D) some amount not given in the above three answers.
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P, where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. The Cournot model describes the competition in this market. What is Alice's marginal revenue function?
A. MR = 100 - 0.005QK - 0.01QA B. MR = 100 - 0.005QA - 0.005QK C. MR = 100 - 0.005QA - 0.01QK D. MR = 100 - 0.005QK - 0.005QA
Beginning at the horizontal axis intercept, as a consumer moves upward along the budget line, he will find that
a. the marginal utility per dollar spent on the vertical axis good increases b. the marginal utility per dollar spent on the horizontal axis good increases c. the marginal utility per dollar spent on the horizontal axis good decreases d. the marginal utilities per dollar spent on both goods increase e. the marginal utilities per dollar spent on both goods remain constant along that particular budget line