Refer to the information provided in Figure 23.11 below to answer the question(s) that follow.
Figure 23.11Refer to Figure 23.11. Equilibrium aggregate output will increase to $250 million if the
A. multiplier increases to 8.
B. MPC increases to 0.8.
C. MPS increases to 0.8.
D. all of the above.
Answer: B
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The table below shows the utility schedule for a consumer of candy bars. Candy Bars ConsumedTotal Utility001529312414515615713Based on the data in the above table you can conclude that the
A. marginal utility of the third unit is 4 utils. B. total utility of 2 units is 4 utils. C. marginal utility of the fourth unit is 14 utils. D. marginal utility of the sixth unit is 0 utils.
The above table gives the total utility that Homer obtains from consuming various quantities of chocolate chip cookies. The marginal utility from the fifth pound of cookies is
A) 1. B) 2. C) 3. D) 15.
Small pizza parlors exist in just about every town. Anyone can open a pizza parlor, and the pizzas from one parlor typically have different tastes and sizes than pizzas from another parlor. Thus, the pizza industry is an example of
A) perfect competition. B) monopoly. C) oligopoly. D) monopolistic competition.
When a nation is producing the allocatively efficient quantity of a product, the marginal benefit of producing the good equals the marginal cost of producing that good
Indicate whether the statement is true or false