How much is the MPC?
300/400 = ¾ = .75
Economics
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What is consumer surplus?
What will be an ideal response?
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Why is it true that under monopolistic competition the price is above marginal revenue while under pure competition price is equal to marginal revenue?
What will be an ideal response?
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If depreciation is less than investment ________
A) capital per-worker is falling B) capital per-worker is rising C) capital per-worker is constant D) capital per worker is greater than saving
Economics
An efficient allocation of resources requires that a product's price equal its average cost
a. True b. False Indicate whether the statement is true or false
Economics