Total aggregate demand includes ________
A) planned investment spending
B) consumption expenditures
C) net exports
D) all of the above
E) none of the above
D
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Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. What is the highest fixed fee Always There Wireless can charge without losing the low-demand consumers?
A. $21.13 B. $42.25 C. $28.13 D. $136.13
If a firm is earning a normal profit, but zero economic profit, at the point where MR = MC, the firm should
a. shut down b. increase output and decrease price c. increase output and increase price d. decrease output and increase price e. remain at its current level of output
Ceteris paribus, tariffs and nontariff barriers on imported factor inputs result in
A. An increase in the price level and a decrease in unemployment. B. A decrease in the price level and a decrease in unemployment. C. An increase in the price level and an increase in unemployment. D. A decrease in the price level and an increase in unemployment.
A minimum wage set above the equilibrium wage will ________ the quantity of labor demanded and ________ the quantity of labor supplied
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease E) not change; not change