Under perfect price discrimination, marginal profit at each level of output equal
A) 0.
B) P - AC.
C) P - MC.
D) P - AR.
C
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Which of the following statements about a circular flow model is false?
A) Producers are buyers in the factor market and sellers in the product market. B) Households are neither buyers nor sellers in the input market. C) Households are buyers in the product market. D) Producers are buyers in the factor market.
In the Cambridge version of the Quantity Theory of Money, the amount of real money balances __________ after an increase in the nominal money supply
A) increases B) decreases C) is unchanged D) Cannot be determined from the information given.
The phrase "a stronger U.S. dollar" means that the dollar
a. is in equilibrium on the foreign exchange market b. does not fluctuate greatly c. has been depreciating d. has been appreciating e. buys more than one unit of a foreign currency
The accompanying figure below shows a single consumer's demand for ice cream at the student union.
During a regular semester, there are 500 students on campus. Each student's weekly demand for ice cream is shown above. When the price of ice cream is $2.00 per scoop, those 500 students purchase a total of ________ scoops per week from the student union.
A. 2,500 B. 3,000 C. 2,000 D. 5,000