Graphically, a firm's total profit equals:
a. the distance between the firm's marginal revenue and marginal cost curves.
b. the distance between the firm's demand and supply curves
c. the distance between the firm's total revenue and total cost curves.
d. the distance between the average revenue and marginal revenue curves.
c
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If depreciation is less than gross investment, then net investment is
A) positive. B) negative. C) zero. D) This situation could never occur because it is impossible for depreciation to be less than gross investment.
Technological advancements and changes in factor proportions shift a producer's comparative advantage
Indicate whether the statement is true or false
When a reduction in the price of a good allows a consumer to purchase more of all goods, this effect is called the:
a. income effect. b. substitution effect. c. elasticity effect. d. monetary effect.
According to the graph shown, if the government decides to increase its spending, it is most likely at point:
A. C
B. B
C. D
D. It's impossible to tell without more information.