Refer to the information below. What is the vertical intercept of the demand curve?
A small nation has three gasoline suppliers with a linear monthly market demand equal to: Q = 500,000 - 5P. Each firm's marginal cost (MC) and average total cost (ATC) curves are horizontal at $10,000 per month.
A) 0.50
B) 100,000
C) 0.20
D) 500,000
B) 100,000
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A demand schedule’s position is determined partly by the supply of a good.
Answer the following statement true (T) or false (F)
When the U.S. Treasury sells gold, the immediate effect is that __________ and __________
A) reserves increase; currency in circulation decreases B) reserves decrease; currency in circulation increases C) reserves increase; Treasury deposits decrease D) reserves decrease; Treasury deposits increase
If we produce one more bottle of water:
a) we incur a marginal cost. b) the marginal social benefit from bottled water increases. c) the price must rise. d) we must move away from equilibrium e) we act efficiently.
That the migration of black middle and working class families from the ghettos removed the key social constraint against crime is a central thesis of
A. William Julius Wilson. B. Charles Murray. C. Mickey Kaus. D. Frances Fox Piven.