If the marginal benefit were greater than the cost of a good:
A. consumers could increase their utility by buying more.
B. consumers could increase their utility by buying less.
C. producers should decrease production.
D. social net benefit would be maximized.
A. consumers could increase their utility by buying more.
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The export supply curve shows a country's:
a. domestic surplus at various prices below the "no-trade" equilibrium price. b. domestic shortage at various prices below the "no-trade" equilibrium price. c. domestic supply at the "no-trade" equilibrium price. d. domestic surplus at various prices above the "no-trade" equilibrium price. e. domestic shortage at various prices above the "no-trade" equilibrium price.
An implication of the Employment Act of 1946 is that the government should respond to changes in the private economy to stabilize aggregate demand
a. True b. False Indicate whether the statement is true or false
The Sunshine Corporation finds its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question.OutputTVC1$302503654855110Refer to the above information. The average total cost of 3 units of output is:
A. $35. B. $65. C. $21.67. D. $40.
In the short run, monopolistically competitive firms will maximize profits by:
A. acting like perfectly competitive firms. B. acting like monopolists. C. playing strategic games like oligopolists. D. None of these statements is true.