Table 4-1
Use this table for the following questions.
Refer to Table 4-1. What is the equilibrium price in the example above?
a.
$9
b.
$8
c.
$7
d.
$6
e.
$5
c
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If the technology for producing a good enables one firm to meet the entire market demand at a lower average total cost than two or more firms could, then that firm has
A) patented the market. B) a natural monopoly. C) increasing average total costs. D) a legal barrier to entry. E) a discriminatory monopoly.
Refer to Figure 9-4. Suppose the government allows imports of leather footwear into the United States. What will be the quantity demanded?
A) Q0 B) Q1 C) Q2 D) Q2 - Q0
The smaller the fraction of an investment financed by borrowing
A) the greater the potential return and the smaller the potential loss on that investment. B) the greater the potential return and potential loss on that investment. C) the smaller the potential return and potential loss on that investment. D) the smaller the potential return and the greater the potential loss on that investment.
If the average propensity to consume is 1.0, the marginal propensity to consume is 0.8, and real disposable income increases by $100, the additional saving is
A) $0. B) $20. C) $80. D) $100.