If a firm sells 5 units of output at $9 per unit and 6 units of output when price is reduced to $8, its marginal revenue from selling the sixth unit is
A) $1.
B) $48.
C) $45.
D) $3.
D
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The adoption of capital controls makes
A) everyone in the domestic economy better off. B) some domestic residents better off and some worse off, although on average welfare increases. C) some domestic residents better off and some worse off, although on average welfare decreases. D) everyone in the domestic economy worse off.
Eva wants to create a graph containing the prices of concert tickets and the corresponding quantities of concert tickets demanded by customers. She should use a(n)
a. pie chart. b. bar graph. c. time-series graph d. coordinate system.
Many detrimental externalities occur because
A. persons do not pay the full social cost of using a resource. B. persons do not pay the full private cost of using a resource. C. companies do not pay the market price for natural resources. D. companies pay more than the full social cost of using a resource.
Which statement is true?
A. The national debt is larger than our GDP. B. The national debt has doubled over the last two years. C. The national debt is nearly $400 billion. D. The national debt has increased every year from 1969 to 1997.