In the figure above, when 20 units are produced the marginal cost is
A) less than $8.
B) $8.
C) more than $8 and less than $16.
D) None of the above answers is correct.
A
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In the long run, the inflation rate
A) must be equal to the natural unemployment rate. B) can take on any value. C) is equal to the natural inflation rate. D) is zero. E) cannot be negative.
For a monopolist, the reason that marginal revenue is less than price is
A) because of the perfectly elastic demand curve that the monopolist faces. B) because the monopolist must lower the price of the good in order to sell an additional unit. C) because of the U-shaped average revenue curve. D) because of the lack of competition in the market.
The competitive firm's profit-maximizing quantity of labor is the quantity where the:
A. quantity of the marginal product of labor is equal to the market wage. B. value of the marginal product of labor is equal to the market wage. C. quantity of the marginal product of labor is equal to zero. D. value of the marginal product of labor is equal to the profit.
Which of the following will decrease U.S. net capital outflow?
a. capital flight from the United States b. the government budget deficit increases c. the U.S. imposes import quotas d. None of the above is correct.