A single-price monopoly can sell 2 units for $8.50 per unit. In order to sell 3 units, the price must be $8.00 per unit. The marginal revenue from selling the third unit is
A) $24.00.
B) $8.50.
C) $7.00.
D) $6.50.
E) $17.00.
C
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Which of the following events create an outward shift of the production possibilities curve?
A. The United States moves resources from the production of goods for domestic production to the production of goods for export. B. Tax reductions reduce the cost and increase the amount of investment in factories, machinery, and research and development. C. There is an migration of young people to another country where there is more political freedom. D. The unemployment rate falls from 33 percent to 12 percent.
When the Fed buys government securities, banks' reserves ________, the quantity of money ________, and the federal funds rate ________
A) decrease; increases; falls B) increase; increases; falls C) increase; decreases; rises D) decrease; decreases; rises E) increase; increases; rises
As the number of days without rain increases, the amount of wheat per acre grown declines. A graph showing this relationship would have a curve
A) that is a horizontal line. B) that is a vertical line. C) showing a positive relationshi
The substitution bias in the consumer price index refers to the idea that consumers ________ the quantity of products they buy in response to price, and the CPI does not reflect this and ________ the cost of the market basket
A) change; underestimates B) do not change; overestimates C) change; overestimates D) do not change; underestimates