The increase in total cost resulting from producing one more unit of output is the marginal cost.
Answer the following statement true (T) or false (F)
True
You might also like to view...
If the marginal propensity to consume (MPC) is 0.80, the value of the spending multiplier is 2
a. True b. False Indicate whether the statement is true or false
Indicate whether each of the following situations would shift the supply curve to the left, to the right, or not at all
a. An increase in the price of an input b. An increase in productivity c. An increase in the price of a substitute in production d. A decrease in the expected future price of a product e. A decrease in the current price of the product
If the government runs an ad campaign to shame litterers, they are:
A. wasting a lot of money. B. trying to get individuals to internalize the negative externality created by their decision to litter. C. using protectionist policy to help the trash-collecting industry. D. All of these statements are true.
For any value of the MPC (marginal propensity to consume), the formula for the expenditure multiplier is
a. 1/(1 - MPC) b. 1/MPC c. 1/(MPC - 1) d. (1 + MPC)/MPC e. 1/(1 + MPC)