Total planned expenditure (equals total output) is 14,000 when autonomous consumption expenditure is 450. When autonomous consumption expenditure falls to 400, total planned expenditure (equals total output) is 13,800
The marginal propensity to consume is ________. A) 0.89
B) 0.75
C) 0.99
D) 0.44
E) 0.03
B
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The figure above shows the market for tires. The figure shows that the government has imposed a tax of ________ per tire
A) $10 B) $30 C) $40 D) $60 E) None of the above answers is correct.
For a regulated natural monopoly, an average cost pricing rule sets price equal to
A) average fixed cost. B) average total cost. C) average external cost. D) average variable cost.
If the United States is operating at full production, not only are we using our most ________ technology, but we are utilizing our land, labor, capital and entrepreneurial ability at their most ________________.
Fill in the blank(s) with the appropriate word(s).
At zero units of output a firm's variable costs are zero.
Answer the following statement true (T) or false (F)