The reduction in private borrowing that is caused by an increase in government borrowing is called:

The marginal cost is the slope of the:

a. marginal product curve. b. total cost curve. c. total product curve. d. long-run average total cost curve.

The representative consumer acts competitively

A) when he or she can haggle for a lower price. B) when he or she is a price-taker. C) when he or she is a price-maker. D) if the consumer is large relative to the size of the market.