Negative relationships are also referred to as inverse relationships.
Answer the following statement true (T) or false (F)
True
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The table above gives the marginal social cost (which equals the price), marginal private benefit, and marginal social benefit of students attending Diablo Valley College (DVC) in Concord, California
a. When 4,500 students attend DVC, what does the marginal external benefit equal? b. If the market is competitive and left without government intervention, what is the quantity of students that will attend DVC and what will be the price of a course? c. What is the efficient quantity of students attending DVC? d. If the government can set the price per course, in order to have the efficient quantity of students attending DVC, what should the government set as the price?
Marginal revenue is defined as
A) the value of a firm's sales. B) the total revenue from the total amount the firm sells. C) the change in total revenue that results from a one-unit increase in the quantity sold. D) total revenue divided by the total quantity sold.
The formula for the multiplier is (1 - MPC)
Indicate whether the statement is true or false
The market mechanism satisfies all consumer desires and maximizes business profits.
Answer the following statement true (T) or false (F)