Exhibit 8-12 Marginal revenue and cost per unit curves
As shown in Exhibit 8-12, the firm's short-run supply curve is the:
A. entire marginal cost curve.
B. rising part of marginal cost beginning at E.
C. rising part of marginal cost beginning at F.
D. entire marginal revenue curve.
Answer: B
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A) increases aggregate demand. B) increases the aggregate quantity demanded. C) decreases the aggregate quantity demanded. D) decreases aggregate demand.
In perfect competition, the elasticity of demand for the product of a single firm is
A) 0. B) between 0 and 1. C) 1. D) infinite.
On a diagram with "calories consumed per day" on the horizontal axis and "exercise per day" on the vertical axis, we can draw a line along which your body weight at this moment will remain constant
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Of the following, which is the largest source of government funds in the long run?
A. government borrowing B. money creation C. taxation D. user fees