The figure above represents the relationship between output and cost in an industry with an external cost. Which line represents the marginal private cost (MC) curve?
A) Curve 1
B) Curve 2
C) the dotted line BC
D) the y-axis
E) the dotted line AB
B
Economics
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Reserves of a bank equal its
A) deposits with the Federal Reserve. B) vault cash plus deposits of its customers. C) vault cash plus deposits with the Federal Reserve. D) vault cash.
Economics
Sequential games are used to analyze
A) second-price auctions. B) cartels. C) situations in which one firm acts and other firms respond. D) firms that are subject to the prisoner's dilemma.
Economics
Based on U.S. income data from 2011, the bottom fifth of all families received approximately what percent of all income?
a. 48.9 percent b. 21.3 percent c. 8.6 percent d. 3.8 percent
Economics
What fraction of the world's population lives on no more than $2 a day?
A. 1/10 B. 1/4 C. 1/2 D. 3/4
Economics