How much is the MPS?
1,000/5,000 = 1/5 = .2
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What are pecuniary externalities? Explain with the help of an example
What will be an ideal response?
When Fred's income was $100 per week, 10 units of good X were demanded. Now his income is $150 per week and 12 units of good X are demanded. Using the percentage change formula, the income elasticity of demand for good X equals
A) 0.45. B) 0.40. C) 2.20. D) 2.50.
One economically efficient way to eliminate the Tragedy of the Commons is to
a. tax the owners of the resource. b. prevent anyone from using the resource. c. reduce the marginal social benefit of the resource. d. establish private ownership of the resource.
Large swings in stock prices are usually caused by
A. A decrease in interest rates. B. An increase in dividend payments by corporations. C. Widespread changes in expectations. D. A decrease in the supply of stocks.