Willingness to accept is:
A) always lower than the marginal cost of production.
B) always higher than the marginal cost of production.
C) the lowest price that a producer is willing to receive to sell an extra unit of a good.
D) the highest price that a producer is willing to receive to sell an extra unit of a good.
C
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Which of the following holds true at the chosen level of output in the long run for firms in a perfectly competitive market?
A. P > MC B. P = minimum AVC C. MR = MC D. MR > MC
Which of the following demonstrates the ideal use of expansionary fiscal policy?
A. The government slowly hires unemployed workers and puts them to work on permanent projects that continue long after the economy recovers. B. The government quickly hires already-employed workers and puts them to work on projects that are finished as the economy recovers. C. The government quickly hires unemployed workers and puts them to work on projects that are finished as the economy recovers. D. The government quickly hires unemployed workers and puts them to work on permanent projects that continue long after the economy recovers.
Foreign direct investment is mainly refers to foreign securities investments that do not involve management control.
Answer the following statement true (T) or false (F)
In Figure 1.9, the slope of the line between points K and L is
A. 0.75. B. 1.25. C. 0.60. D. 0.80.