Capital deepening shifts the output (or production function) curve upward to the right
Indicate whether the statement is true or false
F
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Velocity is V, the quantity of money is M, the price level is P, and real GDP is Y. Which of the following formulas is correct?
A) Y = (P × M) ÷ V B) Y = V × M C) Y = (P + M) - V D) V = (P + Y) × M E) V = (P × Y) ÷ M
Refer to Scenario 1-2. Using marginal analysis terminology, another economic term for the incremental revenue received from the sale of the last 300 hats is
A) gross earnings. B) sales revenue. C) gross profit. D) marginal revenue.
In a Cournot oligopoly, managers determine quantity ________ collusion and the managers at each firm believe that once their rival managers choose their quantity, they ________ change it.
A) with no; will not B) with; will C) with; will not D) with no; will
In the short run, a perfectly competitive firm can earn: a. positive economic profits. b. zero economic profits
c. negative economic profits. d. any of the above.