Refer to the scenario above. Jack will derive ________ units of utility if he tries to move the tree while Jill does not try at all
A) 5
B) -5
C) -2
D) 10
B
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Generally speaking, the inclusion of transportation costs in the total costs of production has the effect of causing the LRAC curve to:
A) shift down. B) flatten out. C) shift up. D) become steeper over the range on economies of scale.
For a profit-maximizing, competitive firm, the value of the marginal product of labor
a. increases when the price of output decreases. b. is the firm's demand for labor. c. equals the marginal product of labor divided by the wage rate. d. All of the above are correct.
Refer to the graph shown. If expected inflation is 6 percent, the economy will be in long-run equilibrium at point:
A. A. B. B. C. C. D. D.