A monopoly firm selling moustache wax to vain men in a small town is currently maximizing profits by charging a price of $5. It follows that the marginal cost of moustache wax
A. is greater than $5.
B. is equal to $5.
C. is less than $5.
D. None of these choices are true.
C. is less than $5.
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Investment in health and education
a. slows growth because it takes resources from growth-creating sectors b. is harmful because it encourages families to have children c. is beneficial because in improves the capabilities of the population d. is beneficial because it provides jobs for doctors and teachers e. none of the above
The cost of trash removal goes up, in part at least, because labor productivity in auto manufacturing goes up
a. True b. False Indicate whether the statement is true or false
________: the change in total cost of production as the output or total product of the business is expanded
Fill in the blank(s) with correct word