The marginal cost curves slope upward because of the principle of
A) decreasing marginal benefits.
B) increasing marginal cost.
C) increasing marginal benefits.
D) decreasing marginal cost.
E) decreasing total benefit.
B
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What is the "Hotelling rule" for a monopolist?
A) Price minus marginal cost must rise at exactly the rate of interest. B) Price plus marginal cost must rise at exactly the rate of interest. C) Marginal revenue minus marginal cost must rise at exactly the rate of interest. D) Marginal revenue and marginal cost must be independent of the rate of interest.
In 2009 Greece's budget deficit rose and people became worried about the ability of the Greek government to continue to make payments on its debt. Which of these events raise a country's interest rates?
a. an increase in the budget deficit and increased concerns about the ability of the government to pay back its debt b. an increase in the budget deficit, but not increased concerns about the ability of the government to pay back its debt c. increased concerns about the ability of the government to pay back its debt, but not an increase in the budget deficit d. neither an increase in the budget deficit nor increased concerns about the ability of the government to pay back its debt