From Figure 8-5, one can deduce
A. TR = TC at outputs 10 and 60.
B. MR = MC at output 35.
C. TFC = 100.
D. All of the responses are correct.
Answer: D
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PPP holds better for low-inflation countries
Indicate whether the statement is true or false
When import restrictions are placed on a good, and as a result the price of the good increases, the demand curve for that good will
A) shift rightward. B) shift leftward. C) become steeper. D) be unaffected.
If labor productivity in a steel mine is 3.5 tons per worker, then 400 steel workers with a fixed amount of capital produce
A. 87.5 tons. B. 1,400 tons. C. 1,750 tons. D. 4,000 tons.
Use the following graph to answer the next question.
The graph shows the supply and demand for money where Dm1, Dm2, and Dm3 represent different demands for money and Sm1, Sm2, and Sm3 represent different levels of the money supply. The initial equilibrium point is A. What will be the new equilibrium point following a decrease in the money supply?
A. F B. B C. E D. I