Refer to Figure 1A.1. The slope of the line between the points where income equals 50 and income equals 200 is:
A. 0.2.
B. 5.
C. 10.
D. 50.
Answer: B
You might also like to view...
A firm is producing 2,500 units at its optimal output, with average variable cost per unit of $4 and average fixed cost per unit of $2.50. If sells its output at $8 per unit, total profit is
A. $10,000. B. $3,750. C. $1,500. D. $20,000
If the government imposed a price ceiling on gasoline above this good's current market clearing price, there would be
A) a shortage of gasoline. at the ceiling price. B) a surplus of gasoline at the ceiling price. C) an increase in the price of gasoline. D) no change in the price of gasoline.
The consumer price index (CPI) is a measure of inflation for
A) farmers. B) an elderly couple recently retired to Yuma, Arizona. C) Apple Computer. D) a typical consumer of the market basket used to calculate the index.
Suppose that 1000 identical sellers each set their profit-maximizing output level at 18 units when price equals $10 . Then what is market quantity supplied at a price of $10
a. 100. b. 1,000. c. 10,000. d. 18,000.