Figure 1A.2Refer to Figure 1A.2. The slope between points a and c is:
A. -5.
B. -6.
C. 10.
D. 30.
Answer: B
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If a monopolistically competitive firm's marginal cost increases, then in order to maximize profits, the firm will:
A. increase output and decrease price. B. reduce both output and price. C. reduce output and increase price. D. increase both output and price.
If the APC is 1.1, the APS is
A. -0.1. B. 0. C. 0.1. D. 0.9.
Which of the following institutions within the Federal Reserve System determines how many government securities the Fed should buy or sell on a given day?
A) the Federal Reserve Bank of Chicago's Board of Trade. B) the Board of Governors. C) Federal Advisory Committee. D) the Federal Reserve Bank of New York's Trading Desk.
In 2008, Precision Pattern Interiors, which makes high-end aircraft interiors, began a $1 million renovation of a building at the Hutchinson Air Base Industrial Tract south of Yoder, Kansas
The company will also add some $400,000 in new equipment and triple its Yoder work force. Which of Precision Pattern Interiors' decisions is a short run decision? A) triple its Yoder work force B) $1 million renovation of a building at the Hutchinson Air Base Industrial Tract C) $400,000 in new equipment purchases D) All of these decisions are short run decisions.