The marginal propensity to consume explains how much of the next dollar of disposable income
A) a household will spend.
B) a business will invest.
C) the government will spend.
D) foreign residents will use to purchase domestic exports.
A
Economics
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What is the fundamental principle that economists use when evaluating the costs and benefits of production?
A) cost of goods principle B) production principle C) marginal principle D) supply and demand principle
Economics
The output of a bakery is 250 loaves of bread, when 10 workers are employed. If one more worker is hired, the total output increases to 275 loaves
Given that labor is the only variable input that the bakery uses, and the market wage rate is $10, calculate the marginal cost when employment is increased from 10 to 11 workers.
Economics