At the most profitable level of production, a firm's marginal cost will be _____ the market price.
(A) Set by
(B) Less than
(C) Equal to
(D) Greater than
Ans: (C) Equal to
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The largest component of federal government spending is for
A) Medicare and Medicaid. B) interest on the national debt. C) prisons. D) national defense. E) education.
What effect does an increase in the interest rate have on the opportunity cost of holding money and on the demand for money curve?
What will be an ideal response?
If cameras and film have a cross elasticity of .985, they are complements
Indicate whether the statement is true or false
Government spending that shifts income from one group of society to another, such as price subsidies and cash payments, is known as
a. merit goods spending b. debt servicing c. transfer payments d. countercyclical payments e. social spending