In both monopolistic competition and non-price-discriminating monopoly,
a. the marginal revenue curve lies above the average revenue curve
b. the marginal revenue curve lies above the demand curve
c. the marginal revenue curve lies below the demand curve
d. marginal revenue is equal to average revenue
e. marginal revenue is equal to price
C
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The figure above illustrates the marginal benefit and marginal cost of different quantities of national defense. What is the political equilibrium if voters are well informed?
A) 0 units B) between 0 and 3 units C) 3 units D) 5 units
Provide two microeconomic statements and two macroeconomic statements. Classify your statements as positive or normative, and explain your classifications
What will be an ideal response?
As more and more resources are dedicated to an activity
a. the benefits will increase proportionately. b. the benefits will become smaller and smaller while the costs will rise. c. the demand for that activity will increase. d. the costs will be offset by the benefits received from the activity.
If the dollar depreciates relative to the Peso, it can be said that
a. Mexican citizens no longer respect the United States. b. the dollar falls in value within the United States. c. it takes fewer dollars to buy Pesos. d. the Peso appreciates relative to the dollar.