How much is the APS at a disposable income of 2000?
600/2,000 = 3/10 = .3
You might also like to view...
For a monopolist, total revenues will:
A. increase and eventually decrease as output increases. B. decrease and eventually increase as output increases. C. always increase as output increases. D. always decrease as output increases.
If the economy is operating in the intermediate range of the aggregate supply curve, then the greater the rate of growth of aggregate demand the:
A. Greater the resulting increase in the price level, the greater the rate of growth of output, and the greater the unemployment rate B. Greater the resulting increase in the price level, the lower the rate of growth of output, and the greater the unemployment rate C. Less the resulting increase in the price level, the lower the rate of growth of output, and the greater the unemployment rate D. Greater the resulting increase in the price level, the greater the rate of growth of output, and the lower the unemployment rate
The figure above shows a monopoly firm's demand curve. If the price and quantity of haircuts move from point t to point r, the monopoly's
A) total revenue will rise. B) total revenue will fall. C) total revenue will remain the same. D) marginal revenue will decrease.
Suppose that when the price of oranges decreases, Sarita decreases her purchases of peaches. To Sarita,
A) oranges and peaches are normal goods. B) oranges and peaches are substitutes. C) oranges and peaches are complements. D) oranges and peaches are inferior goods.