In the case study in the text involving calculator production, the fact that each calculator produced added $10.30 to cost and $12 to revenue made clear the value of ____ in determining whether or not to suspend production.
A. average fixed cost
B. cost saving
C. marginal analysis
D. the level of fixed cost
Answer: C
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The Keynesian perspective places more emphasis on
a. supply. b. demand. c. aggregate supply. d. aggregate demand.
Suppose the dollar depreciates from 89 Japanese yen to 79 Japanese yen. One would expect
A. U.S. imports to increase B. U.S. exports to increase. C. Japanese exports to increase. D. Japanese net exports to increase.
What is an economic model?
A) It is a simplified version of some aspect of economic life used to analyze an economic issue. B) It is a description of an economic issue that includes all possible related information. C) It is a detailed version of some aspect of economic life used to analyze an economic issue. D) It is a description of an economic issue based on official government information.
Refer to Figure 9.2. At price 0H and quantity Q1, consumer surplus is the area
A) EDGF. B) 0FGQ1. C) HFGB. D) EFC. E) none of the above