Refer to the diagram. Total utility is at a maximum at _____ units of X
A. 2
B. 3
C. 4
D. 6
D. 6
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Why is it not a contradiction to say that a firm is simultaneously earning an accounting profit but suffering an economic loss?
What will be an ideal response?
Which is NOT a characteristic of monopolistic competition?
A) small share of market to each firm B) lack of collusion among firms C) few firms in the industry D) independence of each firm's decisions
Using Figure 9.1, dissaving occurs at all income levels
A. Above $3,000 billion. B. Above $2,000 billion. C. Below $2,000 billion. D. Below $3,000 billion.
Which of the following best describes the cause-effect chain of a restrictive monetary policy?
A. A decrease in the money supply will lower the interest rate, increase investment spending, and increase aggregate demand and GDP. B. A decrease in the money supply will raise the interest rate, decrease investment spending, and decrease aggregate demand and GDP. C. An increase in the money supply will raise the interest rate, decrease investment spending, and decrease aggregate demand and GDP. D. An increase in the money supply will lower the interest rate, decrease investment spending, and increase aggregate demand and GDP.