In Figure 1.9, the slope of the line between points K and L is
A. 0.75.
B. 1.25.
C. 0.60.
D. 0.80.
Answer: D
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What will be an ideal response?
Over the past five decades, the U.S. civilian unemployment rate has varied between, roughly, ________
A) 3% and 11% B) 55% and 60% C) 6% and 8% D) 0.2% to 0.4%
A monopolist faces the inverse demand curve P = 60 - Q. It has variable costs of Q2 so that its marginal costs are 2Q, and it has fixed costs of 30. The monopoly's profit maximizing output is
A) 5. B) 10. C) 15. D) 20.
A normal good is a good for which demand increases as the
a. income of demanders increases b. price of the good increases c. price of close substitutes decreases d. total number of consumers decreases e. supply of the good increases