Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by
A. more than 30.
B. exactly 60.
C. fewer than 30.
D. exactly 30.
Answer: A
You might also like to view...
Which of the following is most likely to be an example of causation?
A) A student wins money by scratching a ticket with a particular coin. He decides to scratch all tickets with the same coin in the future. B) A soccer player scores 4 goals when he wears red socks. He concludes that the red socks helped him score the goals. C) A firm producing CFLs installs new machinery. The per-day production of CFLs increases. D) The crime rate is high in a country. The literacy rate is high as well.
Four firms agree to operate as a monopoly and charge the monopoly price of $10 for their product and (jointly) produce the monopoly quantity of 50,000 units. If the competitive price for the product is $6, under the Clayton Act these four firms face treble damages of ________.
A) $600,000 B) $1,000,000 C) $3,000,000 D) $200,000
Given that price is constant, the lower the marginal utility of a good as more of the good is consumed the:
A. fewer substitutes there are. B. more you are willing to buy of it. C. more substitutes there are. D. less you are willing to buy of it.
Hyperinflation refers to a situation in which:
A. prices are rising extremely rapidly. B. prices are falling extremely rapidly. C. the price level is extremely high. D. the price level is extremely low.