The supply curve of a price-taker firm in the short run is the
a. firm's average variable cost curve.
b. portion of the firm's average total cost curve that lies above average variable cost curve.
c. portion of the firm's marginal cost curve that lies above average variable cost curve.
d. firm's marginal revenue curve.
C
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When a Peruvian buys a U.S. government bond, from the perspective of Peru, this is a(n):
A. capital inflow. B. export. C. capital outflow. D. import.
If the price of chocolate increases by 15 percent and the quantity demanded of chocolate declines by 5 percent, the price elasticity of demand ( ) is -3
a. True b. False Indicate whether the statement is true or false
If the MPC is 0.6, the tax multiplier is
A. -0.6. B. -1.5. C. -2.5. D. -4.
If a nail salon hires an additional worker, that worker can service 8 additional customers per day. The average nail service fee is $30. The most the salon would be willing to pay that worker is
A. $8 per day. B. $30 per day. C. $240 per day. D. indeterminate with the given information.