When resources are fully employed, aggregate supply reaches an impassable limit
Indicate whether the statement is true or false
T
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If the LM function is vertical, then __________ is constant
A) the price level B) the interest rate C) velocity D) investment
Ashley bakes bread that she sells at the local farmer's market. If she purchases a new convection oven that reduces the costs of baking bread, the
a. supply curve for Ashley's bread will increase. b. supply curve for Ashley's bread will decrease. c. demand curve for Ashley's bread will increase. d. demand curve for Ashley's bread will decrease.
Which of the following would most likely be classified as a natural monopoly?
A. Microsoft B. a city water district C. Disneyland D. Exxon-Mobil
Average total cost of producing 100 units of output is $5. If the marginal cost of producing the 101st unit is $4, then average total cost of 101 units is less than $5.
Answer the following statement true (T) or false (F)