The monopolist's input demand curve is the
A) marginal revenue curve.
B) marginal revenue product curve.
C) marginal physical product curve.
D) marginal factor cost.
Answer: B
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The Japanese yen will appreciate against the dollar if
A. U.S. residents demand fewer Japanese goods. B. U.S. residents demand more Japanese goods. C. Japanese residents demand more U.S. goods. D. none of these.
As illustrated in the above figure, after 60 gallons are produced each hour at Ike's Ice Cream Kitchen, the ATC curve starts to slope upward. The ATC starts to slope upward because the
A) MC curve slopes upward. B) MC exceeds the ATC. C) distance between the ATC and the AVC curve is shrinking. D) None of the above answers is correct.
Fluctuating interest rates tend to stabilize real output when the
A) IS curve is flat. B) IS curve is steep. C) LM curve is flat. D) LM curve is steep.
Refer to Figure 9.1. The firm's profit stays the same whether it produces:
A. 0 or 50 units of output.
B. 50 or 85 units of output.
C. 0 or 85 units of output.
D. 0, 50 or 85 units of output.