After purchasing a coffee cup from your local gas station for $5.00, you can always refill your cup for $0.50. The marginal cost of your 10th cup of coffee purchased at the gas station is:
A. $10.00.
B. $0.50.
C. $5.00.
D. $5.50.
Answer: B
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Refer to Exhibit 7-5. During year 3, Country Z experienced economic _____________ and _________________.
A) decline; deflation (falling price level) B) growth; inflation (rising price level) C) growth; deflation (falling price level) D) decline; inflation (rising price level)
An improvement in technology would cause each of the isoquants in a firm's isoquant map to shift out away from the origin
Indicate whether the statement is true or false
In the above figure, when the price of Good B increases, the result can be shown by
A) the movement from D1 to D2 in Graph A. B) the movement from D2 to D1 in Graph A. C) the movement along D0 from P1 to P2. D) the movement along D0 from P2 to P1.