In the above table, the inflation rate between 2013 and 2014 is approximately
A) 9 percent.
B) 10 percent.
C) 100 percent.
D) 110 percent.
B
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If a monopolist's price is $50 at the output where marginal revenue equals marginal cost and average total cost is $43, then the incremental profit from the last unit sold is $7
Indicate whether the statement is true or false
If the quantity sold of two-liter Coke bottles increases by 10% when price falls by 2%, what is the total change in revenue?
a. Revenue increases by 12% b. Revenue increases by 8% c. Revenue falls by 8% d. Revenue falls by 12%
Price floors typically improve market efficiency
a. True b. False Indicate whether the statement is true or false
Suppose the equilibrium level of national income is $800 billion and the MPC is 0.8 . Suppose as well that people decide to increase their saving by $30 billion. Before this change, people intended to save $100 billion and producers intended to invest $100 billion. The new equilibrium level of national income is
a. $600 billion b. $650 billion c. $680 billion d. $730 billion e. $800 billion