Refer to the graph below. At which point does marginal product (MP) equal average product (AP) at a level of output?
A. Point A
B. Point B
C. Point C
D. Point D
B. Point B
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A currency drain is
A) when the Fed buys securities, but it is not when the Fed sells securities. B) when the Fed raises the required reserve ratio. C) an increase in currency held outside banks. D) when the Fed either buys or sells securities. E) when the Fed sells securities, but it is not when the Fed buys securities.
What is meant by the term "exclusive dealing"? Give an example of an exclusive deal. When is it illegal?
What will be an ideal response?
A perfectly competitive firm charges a price which is greater than its marginal cost
a. True b. False Indicate whether the statement is true or false
Which of the following is not true about the wage level in a bilateral monopoly?
A. It is determined by supply and demand. B. It is below the wage where the marginal factor cost curve intersects the labor demand curve. C. It is above the wage level where the marginal wage intersects the labor supply curve. D. It is determined by negotiation.