According to the aggregate production function, when inputs increase
A. the economy grows.
B. inflation slows.
C. GDP declines.
D. unemployment rises.
Answer: A
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At Revolution Doughnuts in Fort Collins, Colorado, a cup of coffee or a doughnut is $1. Suppose Hannah loves going to Revolution Doughnuts and usually buys 2 doughnuts and 1 cup of coffee
On the way to the shop, Hannah finds an extra $2 dollars in change in her car and buys an extra doughnut and cup of coffee. This means A) doughnuts are an inferior good and coffee is a normal good for Hannah. B) doughnuts are a normal good and coffee is an inferior good for Hannah. C) doughnuts and coffee are normal goods for Hannah. D) doughnuts and coffee are inferior goods for Hannah.
What is the marginal net benefit of producing the twentieth unit?No. units producedTotal RevenueTotal Costs000101204020200100302701704031026050330370
A. -2 B. -5 C. 2 D. 8