The United States has roughly how much of the world's population?
A. 10 percent.
B. 15 percent.
C. 20 percent.
D. 5 percent.
Answer: D
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When a firm increased its output by one unit, its AC decreased. This implies that
A) MC < AC. B) MC = AC. C) MC < AFC. D) the law of diminishing returns has not yet taken effect.
What happens in a duopoly if both firms try to act as the Stackelberg leader?
What will be an ideal response?
Tom and Jerry have two tasks to do all day: make dishes and build fences. If Tom spends all day making dishes, he will have make 16 dishes. If he instead devotes his day to building fences, Tom will build 4 fences. If Jerry spends his day making dishes, he will make 14 dishes; if he spends the day building fences, he will build 7 fences. At the end of the day, Jerry could have produced:
A. 14 dishes and 7 fences. B. 12 dishes and 6 fences. C. 10 dishes and 5 fences. D. 6 dishes and 4 fences.
A movement along the aggregate demand curve represents a change in aggregate quantity demanded
a. True b. False Indicate whether the statement is true or false