The extra revenue produced by the change in quantity, on a per-unit basis, is called:
A. marginal benefit.
B. marginal revenue.
C. infra marginal units.
D. both marginal benefit and marginal revenue.
D. both marginal benefit and marginal revenue.
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All firms in a perfect competition industry
A) are price makers. B) produce differentiated products. C) produce identical products. D) lose money.
A household increases its wealth by
A) increasing its capital consumption. B) making sure that its net investment exceeds its gross investment. C) saving. D) spending more on consumption goods. E) decreasing its depreciation.
Above a certain income the marginal social security tax drops to zero
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The best point for society would be
A. either Point B or Point C, as the total amount being produced at either of these points is approximately the same. B. at any of the labeled points, as all of the points represent an efficient allocation of resources. C. Point C, as at this point there are approximately equal amounts of LCD and OLED televisions being produced. D. indeterminate from this information, as we don't have any information about the society's desires.