The National Recovery Administration (NRA) of 1933–35 attempted to restore market competition within U.S. domestic and international markets
Indicate whether the statement is true or false
False
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If a firm is willing to supply the 1,000th unit of a good at a price of $23 or more, we know that $23 is the
A) highest price the seller hopes to realize for this output. B) minimum price the seller must receive to produce this unit. C) average price of all the prices the seller could charge. D) price that sets the marginal benefit equal to the price. E) only price for which the seller is willing to sell this unit of the good.
Suppose a single-price monopoly sells 3 units of a good at $20 per unit. If the monopoly sells 4 units, the total revenue increases to $72. What price is being charged for 4 units?
A) $52 each B) $18 each C) $60 each D) $12 each E) $20 each
In 2015, Hooverville consumed 205,000 tons of sugar. In 2016, sugar consumption rose to 245,000 tons. Calculate the percentage change in sugar consumption
A) 8.37% B) 11.95% C) 19.51% D) 26.33%
Which of the following most closely represents the share of total U.S. income that flows to the poorest 20 percent of all U.S. households?
a. 49 percent b. 23 percent c. 15 percent d. 4 percent