Given that autonomous consumption equals $1,000, disposable income equals $20,000, and the MPC equals 0.80, the level of
A. Saving equals $4,000.
B. Saving equals $19,000.
C. Consumption equals $16,000.
D. Consumption equals $17,000.
Answer: D
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Refer to the scenario above. Each firm will face a demand of ________ units of Good A if both of them charge a price of $60
A) $1,000 B) $1,500 C) $2,000 D) $3,000
If A and B are two disjoint sets, and "Pr" represents the probability, then Pr[A and B] will be:
a. negative. b. infinity. c. unity. d. zero.
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a. The monopolist undersupplies the market and charges too high a price. b. The monopolist is a revenue maximizer not a profit maximizer. c. A monopolist has little incentive to produce efficiently (at a low cost). d. All of the above are true.
Which of the following is true of the relationship between disposable income and consumption?
What will be an ideal response?