Use the following market data to answer the question below.Price per UnitQuantity Purchased by ConsumerQuantity Sold by Producer$52,0000101,800300151,600600201,400900251,2001,200301,0001,500In the market shown in the table, the marginal benefit of 1,200th unit is
A. $25.
B. $10.
C. $20.
D. $15.
Answer: A
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Using the figure above, suppose education is provided by public colleges, where tuition is set at $10,000 a year. Then, ________ million students are enrolled, and the taxpayers cover ________ of marginal cost per student
A) 15; $15,000 B) 7.5; $5,000 C) 3.5; none D) 15; $25,000 E) 7.5; $15,000
Real gross domestic product (GDP) shows: a. total spending on intermediate goods and services. b. constant dollar GDP. c. net domestic product
d. nominal GDP adjusted for taxes. e. domestic income.
We say economists are doing positive economics when they
A. try to improve the welfare of all citizens. B. look for regularities and principles in economic life that can help show how the economy works. C. claim that there is no value free social science so articulating one's values is important. D. focus on policies and rhetoric that encourage people to be optimistic about the future.
A measure of how easy and quickly an asset such as corporate sock can be converted into cash by selling it.
What will be an ideal response?