According to the above table, the value of the MPC is
A. 0.7.
B. 0.1.
C. 0.5.
D. 0.9.
Answer: D
You might also like to view...
In the context of an ultimatum game, the first player proposes a split of $100 to a second player. The second player can either accept the split or both players receive $0 . A rational second player will accept any offer a. greater than $0
b. equal to $50. c. greater than $50. d. that she thinks is fair.
The most important factor contributing to the rapid development of the Chinese economy is their access to the _______________.
Fill in the blank(s) with the appropriate word(s).
Harry and Gus fish the same lake together from the same boat
Each morning Harry typically catches either 20 bluegills or 5 walleyes (depending on how deep he fishes) while Gus typically catches either 20 bluegills or 2 walleyes (depending on how deep he fishes). Other things constant, if they wish to maximize the total number of fish they catch together tomorrow morning, regardless of species, A) Harry should fish and Gus should row. B) Harry should fish only for bluegills and Gus should fish only for walleyes. C) Gus should fish only for bluegills and Harry should fish only for walleyes. D) both Harry and Gus should fish for bluegills.
In equilibrium, which of the following conditions is common to both unregulated monopoly and pure competition?
A) P = MR B) AR = ATC C) MR = MC D) MC = P