What is the relationship between price and marginal revenue for a competitive firm?
Price and marginal revenue are the same for a competitive firm.
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Which markets are represented in the simple circular-flow diagram?
a. markets for goods and services and markets for financial assets b. markets for factors of production and markets for financial assets c. markets for goods and services and markets for factors of production d. markets for goods and services and markets for imports and exports
Explain why most financial instruments are fairly complex, while at the same time quite standardized.
What will be an ideal response?
The Italian economy can be characterized by Equation 24.1.EQUATION 24.1:C = 300 + 0.8Yd G = 400T = 200I = 200Refer to Equation 24.1. At the equilibrium level of output in Italy, saving equals
A. $400. B. $450. C. $500. D. $550.
Refer to the information provided in Figure 1.1 below to answer the question(s) that follow.
Figure 1.1Refer to Figure 1.1. There is ________ relationship between the daily temperature and the number of gallons of ice cream purchased.
A. both a negative and a positive B. a positive C. an inverse D. a negative