When the C line is above the 45-degree line, saving is __________.
Fill in the blank(s) with the appropriate word(s).
negative
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At the profit-maximizing level of output, the amount by which the firm can mark up price is:
A) inversely related to the price elasticity of demand for item in question. B) directly related to the price elasticity of demand for item in question. C) totally unrelated to the price elasticity of demand for item in question. D) equal to the ratio of the marginal and average costs of production.
The difference between total utility and marginal utility is that:
a) Total utility is the complete satisfaction from consuming a good while marginal utility is the satisfaction from consuming one additional unit of a good. b) Both represent the satisfaction obtained from most all goods and services. c) Total utility is the satisfaction from consuming a good while marginal utility is the satisfaction from consuming services. d) Total utility is the satisfaction from consuming one additional unit of a good while marginal utility is the complete satisfaction from consuming a good.
Which statement is false?
A. Most poor women who get pregnant do so to get on welfare. B. Most long-term poor people are black. C. The causes of black poverty are not always the same as those of white poverty. D. None of these statements are false.
The decision to undertake product development in monopolistic competition is made by comparing the
A) marginal benefit of product development to the marginal cost of product development. B) average revenue of product development to the average total cost of product development. C) total revenue of product development to the total cost of product development. D) firm's expenditure on product development to expenditures by competing firms.