Marginal cost typically ________ and marginal revenue typically _________ with increasing output
a. rises; falls
b. falls; rises
c. rises; rises
d. falls; falls
a
You might also like to view...
If national income = $5,000 . autonomous consumption = $200, the MPC = 0.80, and intended investment demand is $800, then actual investment will
a. equal intended investment, and the economy will be in equilibrium b. be less than intended investment, and production and incomes will grow c. be greater than intended investment, and production and incomes will fall d. be less than intended investment, and production and incomes will fall e. be greater than intended investment, and production and incomes will grow
The law of demand states that, other things equal, when the price of a good rises, the quantity demanded of the good rises, and when the price falls, the quantity demanded falls
a. True b. False Indicate whether the statement is true or false
Most entrepreneurs finance their purchases of real capital using their past saving
a. True b. False Indicate whether the statement is true or false
A principle is a self-evident truth that most people readily understand and accept
Indicate whether the statement is true or false