Refer to the table above. If the rental price of machines is $140 per day, up to how many machines should the firm rent?
A) 2
B) 3
C) 4
D) 5
C
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According to your textbook authors, pollution is
A) an imaginary problem invented by fanatical environmentalists. B) a major social and political concern because people disagree about rights. C) a less important problem than inefficiency. D) always increasing and never capable of being reduced.
If marginal revenue is greater than zero, then demand at this level of output is
A) unit elastic. B) elastic. C) inelastic. D) steeper than the marginal revenue curve.
The consumption function is the relationship between
A) real consumption spending and real taxes. B) real consumption spending and investment spending. C) real consumption spending and real disposable income. D) real consumption spending and real saving.
The most volatile component of aggregate demand is:
a. consumer spending b. government purchases c. net exports d. investment spending