If the MPS is 0.3, the MPC is
A. -0.3.
B. 0.7.
C. 1.
D. 1.3.
Answer: B
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The costs of inflation have been most apparent in the post-war period in countries like
A) Argentina. B) Belgium. C) the United States. D) Canada. E) Japan.
You go to the movieplex where movies ordinarily cost $9 . You are intending to see a movie for which you have a $3 off coupon good for only that movie at that time. However, when you get there you see a friend who asks if you would rather see a new release. Both movies start and end at the same time. If you decide to see the new release with your friend, what is your opportunity cost?
a. the amount you value the first movie + $3 b. the amount you value the first movie + $9 c. $3 d. $9
Suppose a perfectly competitive firm is producing 77 units of output, and the marginal cost of the 77th unit is 11. If the firm can sell each unit of output for $8 and the firm's revenue is sufficient to cover its variable cost, the firm should:
A. decrease production. B. lower its price. C. increase production. D. raise its price.
Refer to the graph shown. The cost of 5 units of labor and 6 2/3 units of machines is the same as the cost of:
A. 5 units of labor and 10 units of machines. B. 15 units of labor and 2 units of machines. C. 10 units of labor and 10 units of machines. D. 7.5 units of labor and 5 units of machines.