A monopolistic competitor has fixed costs of $100 and marginal costs of $10 per unit. What is its marginal revenue at its equilibrium price and quantity?
a. $10
b. $11
c. $1,100
d. $2,000
Ans: a. $10
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During a recession, the
A) cyclical rate of unemployment is positive. B) natural rate of unemployment has fallen. C) cyclical rate of unemployment is zero. D) cyclical rate of unemployment is negative.
My brother decides to leave his empty soda can on someone's lawn. This is an example of a
A) public good. B) positive externality. C) neutral externality. D) negative externality.
In the circular flow model, money flows from the business sector to the household sector through the:
a. product market. b. capital market. c. goods market. d. services market. e. resource market.
Utility possibility frontier shows:
a. the possible combinations of utility that an efficient bargain can get the negotiating parties. b. the exact bargain at which the negotiating parties eventually arrive. c. the highest utility each negotiating party can individually achieve. d. the possible combinations that maximize payoffs to the negotiating parties.