What is marginal private cost?
What will be an ideal response?
Marginal private cost is the amount that a consumer pays to consume an additional unit of a particular good.
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The entry of new firms into an industry will very likely
A. shift the industry supply curve to the right. B. cause the market price to fall. C. reduce the profits of existing firms in the industry. D. All of the responses are correct.
When business leaders become pessimistic about future sales and profits and increase their spending on plant and equipment, their expectations are usually fulfilled
a. True b. False Indicate whether the statement is true or false
The payments to owners of capital include
a. interest and profits. b. debt and taxes. c. wages and salaries. d. expenses and bonuses. e. All of the above are correct.
The inflation rate is measured as the percentage change in a price index
a. True b. False Indicate whether the statement is true or false