Firms in imperfectly competitive industries are price takers.
Answer the following statement true (T) or false (F)
False
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Refer to Table 11.1. What is the value of the marginal propensity to consume?
A) 0.15 B) 0.6 C) 0.75 D) 0.9
Which of the following would be classified as a personal consumption expenditure?
a. the expenditure of time you gave in volunteering to raise money for a cancer fund b. your purchase of a newly constructed house c. your purchase of a preowned house d. your purchase of one share of Microsoft stock e. your purchase of your economics course
In what way is the Social Security payroll tax regressive?
What will be an ideal response?
OutputTotal RevenueTotal Cost0$0$501407428094312011741601425200172Refer to the above table. The marginal revenue from the third unit of output is:
A. $120. B. $50. C. $160. D. $40.