If the (steadily decreasing) marginal benefit of another day spent in the hospital exceeds the (steadily increasing) marginal cost of an additional day spent in the hospital, the rational consumer of hospital services would be predicted to
A. demand a refund from the hospital for the previous day's stay.
B. check out of the hospital immediately.
C. complain about the hospital food.
D. stay in the hospital for at least that additional day.
Answer: D
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The economy's long-run aggregate supply curve ________.
A. slopes downward and to the right B. slopes upward and to the right C. is vertical D. is horizontal
Simulation analysis
A) permits the calculation of expected value and standard deviation. B) does not permit the calculation of expected value and standard deviation. C) is too complex to ever be used in actual business situations. D) does not consider probabilities.
According to classical macroeconomic theory,
a. output is determined by the supplies of capital and labor and the available production technology. b. for any given level of output, the interest rate adjusts to balance the supply of, and demand for, loanable funds. c. given output and the interest rate, the price level adjusts to balance the supply of, and demand for, money. d. All of the above are correct.
Use marginal-utility analysis to explain why the growing popularity of i Pads over laptop and desktop computers
Please provide the best answer for the statement.