The line of perfect income equality is
A. X.
B. Y.
C. Z.
D. not shown on this graph.
C. Z.
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What is the internal rate of return on a new $2,000 heater that would reduce your heating costs by $200 a year forever? Under what conditions would you make the purchase?
What will be an ideal response?
Supplier power tends to be higher when
a. Suppliers are concentrated b. There are high costs to switching between suppliers c. Both A&B d. None of the above
Marginal utility:
A) is equal to total utility divided by the number of units consumed. B) is equal to total utility if the demand curve is linear. C) increases as more of a product is consumed. D) diminishes as more of a product is consumed.
The steepness of the aggregate supply curve schedule depends on the time frame.
Answer the following statement true (T) or false (F)