Profit per unit is equal to
A. P - MR.
B. TR - ATC.
C. P - ATC.
D. TR - TC.
Answer: C
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In the diagram above, which figure(s) show(s) an inverse relationship between the variables?
A) both B and C B) only B C) both A and C D) only D E) only C
In the late twentieth century, some regulators began using _______________, which required public utilities to charge a fixed price that would decline slightly over time.
a. cost-plus regulation b. natural monopolies c. price cap regulation d. price deregulation
Refer to the above figure. Unexpected expansionary monetary policy has caused the aggregate demand curve to shift to AD2. In the short run
A. the unemployment rate will be smaller than the rate before the expansionary monetary policy. B. the unemployment rate will be the same rate as before the expansionary monetary policy. C. the unemployment rate can increase or decrease depending upon how much the LRAS will shift. D. the unemployment rate will be larger than the rate before the expansionary monetary policy.
A new fertilizer which greatly improves the corn crop yield is being widely used by corn farmers. You accurately predict that this
A. will shift the supply curve of corn to the left, the equilibrium price of corn will increase, and the demand for corn will fall. B. will shift the supply curve of corn to the left, the equilibrium price of corn will increase, and the quantity demanded of corn will decrease. C. will shift the supply curve of corn to the right, the equilibrium price of corn will increase, and the demand for corn will fall. D. will shift the supply curve of corn to the right, the equilibrium price of corn will decrease, and the quantity demanded of corn will increase.