If marginal cost is rising,
a. average variable cost must be falling.
b. average fixed cost must be rising.
c. marginal product must be falling.
d. marginal product must be rising.
c
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In the above table, if the market is perfectly competitive and unregulated, at the equilibrium level of output, the marginal external benefit per unit is
A) zero. B) $20 per unit. C) $50 per unit. D) $70 per unit.
There are two consumers in the market, Jack and Jane. Each have some coffee and candies (coffee on the horizontal axis). Jack's MRS of candies for coffee is 3. Jane's MRS of candies for coffee is 3
Which one of the following statements is incorrect? A) This allocation is on the contract curve. B) This can be a competitive equilibrium. C) This allocation is Pareto efficient. D) We can reallocate goods so as to make one person better off without harming another.
Based on the fact that the companies Ford, IBM, PepsiCo, and McDonald's own and operate producing units in many different countries, they are categorized as:
a. joint ventures. b. sole proprietorship firms. c. partnership firms. d. multinational firms. e. co-operative firms.
When the real interest rate is less than zero, then:
a. a creditor will gain purchasing power. b. a creditor will just break even on his or her real loan return. c. a creditor will lose purchasing power. d. a creditor will benefit from inflation. e. a creditor's purchasing power will not be affected, because the nominal interest rate is greater than zero.