Use the table below to answer the next question for a perfectly competitive firm.OutputTotal RevenueTotal Cost0$0$501407428094312011741601425200172The marginal revenue generated from the third unit of output is
A. $160.
B. $120.
C. $40.
D. $50.
Answer: C
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When economies of scale exist,
A. production costs per unit increase as output expands. B. production costs per unit decline as output expands. C. total production costs decrease. D. total production costs increase.
In the DMP model,
A) Firms maximize profits. B) Firms determine how much effort they should put into filling job vacancies. C) Firms decide whether or not to enter the labor market by posting vacancies. D) Firms decide whether or not to retain or fire workers.
A government mandated price increase for doodads will: a. decrease the quantity of doodads supplied but increase the quantity of doodads demanded. b. increase the quantity of doodads supplied but decrease the quantity of doodads demanded. c. increase the demand for doodads and decrease the supply of doodads
d. decrease the demand for doodads and increase the supply of doodads.
Assume that the government increases spending and finances the expenditures by borrowing in the domestic capital markets. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and GDP Price Index in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period rises, and GDP Price Index rises. b. The quantity of real loanable funds per time period falls, and GDP Price Index falls. c. The quantity of real loanable funds per time period rises, and GDP Price Index falls. d. The quantity of real loanable funds per time period and GDP Price Index remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.