The marginal product curve:
A. typically decreases at low levels of input, but increases as input increases.
B. cannot be negative, since total output cannot be negative.
C. shows how many extra outputs are created with each additional input.
D. None of these is true.
C. shows how many extra outputs are created with each additional input.
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Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000. What are the implicit costs of her business?
A) $12,000 B) $30,000 C) $72,000 D) $86,000
In the long run, a reduction in labor supply would cause output to ________ and the aggregate price level to ________
A) fall; rise B) fall; fall C) rise; fall D) rise; rise
How is it possible to have a separation between ownership and control of a major corporation? What specific type of market imperfection can cause this?
What will be an ideal response?
If the Fed wishes to reduce the money supply, it can sell U.S. government securities to member banks
a. True b. False Indicate whether the statement is true or false