Marginal cost curves and average cost curves are both purely upward sloping
a. True
b. False
Indicate whether the statement is true or false
False
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The marginal product of capital (MPK) measures ________
A) by how much output increases for each additional unit of capital B) by how much capital increases for each additional unit of output C) by how much capital increases for each additional unit of labor D) by how much total factor productivity increases for each additional unit of capital E) none of the above
Which of the following is an asset to a bank?
a. Checkable deposits b. Transaction deposits c. Credit cards d. Loans e. Borrowings from the Fed
A bank run is:
A. the situation that arises from fear that the bank is in danger of running out of money. B. when all depositors from a single bank demand to withdraw all deposits at once. C. when a bank's reserves are not enough to satisfy all withdrawal demands. D. All of these are true.
The profit-maximizing output of a monopolistic competitor is determined at the point where: a. its average revenue is equal to its average cost. b. its total revenue is maximum
c. its total revenue is equal to its total cost. d. its marginal revenue is equal to its marginal cost.