What portion of the marginal revenue of the 5th unit is due to the output effect and what portion is due to the price effect?
A) output effect = $1.50; price effect = $2.00
B) output effect = $5.50; price effect = -$2.00
C) output effect = $3.00; price effect = $0.50
D) output effect = $4.00; price effect = -$0.50
Ans: B) output effect = $5.50; price effect = -$2.00
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a. High school education b. A bachelor's degree in Economics c. On-the-job learning for a sales executive d. A PhD in astrophysics
Innovation creates the opportunity to:
A. quickly exit industries. B. lose money spent on research and development. C. earn positive economic profits. D. sustain zero economic profits in a single industry in the long run.
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a. a reduction in unemployment b. an increase in available labor c. an improvement in technology d. Any of these events could explain the increase in output.
The money supply curve is usually horizontal
Indicate whether the statement is true or false