In the above table, the efficient level of output can be achieved through a per unit
A) subsidy of $20.
B) tax of $20.
C) subsidy of $60.
D) tax of $60.
A
Economics
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The idea that it takes 80 percent of your time to clean up the last 5 percent of your house illustrates that
A) the marginal cost of cleaning up slopes downward. B) the marginal cost of cleaning up slopes upward. C) the marginal benefit of cleaning up is constant. D) the marginal benefit of cleaning up slopes upward.
Economics
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
Economics