Which of the following is the best example of a microeconomics topic?
A. a price of a new home
B. the inflation rate
C. the economy's growth rate
D. forecasts of a recession next year
Answer: A
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According to growth accounting estimates, during the 1929-1982 period, increases in capital and labor account for about ______ of total growth
a. 0 percent. b. 25 percent. c. 50 percent. d. 90 percent. e. none of the above.
If the total cost function is TC = 10Q3 - 50Q2 + 1000Q + 500, what is the equation for AFC?
What will be an ideal response?
In a monopoly, the price is set when the firm ______.
a. chooses the most profitable spot on the demand curve b. chooses the highest output on the supply curve c. is forced into the least profitable spot on the demand curve d. is forced into the lowest output on the supply curve
What happens to a monopoly's revenue when it sells more units of its product?
What will be an ideal response?