Producer Surplus
What will be an ideal response?
Difference between the price that supplies actually receive and the minimum price they will actually accept
*Everything below the top price and above the surplus
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Which of the following Federal Reserve Banks carries out the decisions of the FOMC?
A) the Kansas City Federal Reserve Bank B) the New York Federal Reserve Bank C) the Dallas Federal Reserve Bank D) the San Francisco Federal Reserve Bank E) the Atlanta Federal Reserve Bank
If the marginal cost of producing a television is constant at $200, then a firm should produce this item
A) as long as the marginal benefit it receives is just equal to or greater than $200. B) only if the marginal benefit it receives is greater than $200 plus an acceptable profit margin. C) as long as its marginal cost does not rise. D) until the marginal benefit it receives reaches zero.
Increases in capital per hour worked cannot sustain high rates of economic growth unless accompanied by technological change
Indicate whether the statement is true or false
Use the general relationship between marginal and average values to explain why a marginal cost curve must intersect an average total cost curve and an average variable cost curve at their minimum points
What will be an ideal response?