Changes in all of the following shift the IS curve except
a. the MPC.
b. income.
c. taxes.
d. consumer confidence.
e. all of the above shift IS curve.
B
Economics
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Consider the market for nonalcoholic beers from the previous question. Which of the following is the Bertrand reaction function for Cudweiser?
a. PC = 1 + .033PB b. PC = 1 - .033PB c. PC = 1.5 + .075PB d. PB = 1.5 + .075PC
Economics
In order to maximize profits in the short run, a firm should produce where
a. marginal revenue exceeds marginal cost by the greatest amount. b. marginal cost is minimized. c. average total cost is minimized. d. marginal cost equals marginal revenue.
Economics