Increasing marginal cost of production explains:
A. the law of demand.
B. the income effect.
C. why the supply curve is upsloping.
D. why the demand curve is downsloping.
Answer: C
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In the long run, does it matter whether a policy action was anticipated or not?
What will be an ideal response?
A noncooperative equilibrium is one in which:
A. the participants act independently, pursuing only their individual interests. B. always results in a negative-negative outcome. C. a dominant strategy exists for both players. D. each player ignores the actions of the other players.
If fixed cost at Q = 100 is $130, then
a. fixed cost at Q = 0 is $0 b. fixed cost at Q = 0 is less than $130 c. fixed cost at Q = 200 is $260 d. fixed cost at Q = 200 is $130 e. it is impossible to calculate fixed costs at any other quantity
The largest of the regional Federal Reserve Banks is located in:
A. Kansas City. B. New York City. C. San Francisco since it serves almost one-third of the country. D. Washington D.C.