Refer to the accompanying table below. The marginal cost of the 3rd unit of this activity is: Units of ActivityTotal CostTotal Benefit0$0$01$30$1002$40$1603$60$1904$100$2105$150$2206$210$225
A. $20
B. $10
C. $30
D. $25
Answer: A
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An increase in consumers' incomes will have what effect on the equilibrium in the restaurant meals market?
a. Price will increase, and quantity will increase. b. Price will decrease, and quantity will increase. c. Price will increase, and quantity will decrease. d. Price will decrease, and quantity will decrease. e. Price will increase, and quantity will stay the same.
If the null hypothesis states H0 : E(Y) = µY,0, then a two-sided alternative hypothesis is
A) H1 : E(Y) ? µY,0. B) H1 : E(Y) ? µY,0. C) H1 : < µY,0. D) H1 : E(Y) > µY,0.
Which is the most accurate statement?
A. The authority to run welfare programs resides mainly in the states. B. The authority to run welfare programs resides mainly in the federal government. C. When the 1996 welfare reform passed, it immediately removed 3 million people from the welfare rolls. D. The welfare reform law of 1996 will virtually abolish welfare by the year 2008.
Based on our understanding of the model presented in Chapter 3, we know with certainty that an equal and simultaneous reduction in G and T will cause
A) an increase in output. B) no change in output. C) a reduction in output. D) an increase in investment.