Table 10.1Refer to Table 10.1, which shows the relationship between the price that Gladys charges for a product and the quantity of that product that Gladys sells. Gladys' marginal revenue becomes negative starting with the production of which unit?
A. 2
B. 4
C. 6
D. None of these; marginal revenue is always positive or zero.
Answer: C
Economics
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The accompanying figure shows Becky's daily production possibilities curve for dresses and skirts.
Of the labeled points, only ________ are attainable.
A. W, X, Y, Z, and V B. X, Y, and Z C. W, X, Y, Z, V, and T D. T and U
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According to the crude quantity theory of money, if M were to increase by 15%, what would happen to V, P, and Q?
What will be an ideal response?
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If unemployment is below the NAIRU, inflation generally:
A. becomes negative. B. gets caught in a downward spiral. C. decelerates. D. accelerates.
Economics