What are the functions for MC and AC if TC = 100q + 100q2? Are the returns to scale increasing, decreasing, or constant?
What will be an ideal response?
MC = 100 + 200q
AC = 100 + 100q
Since AC increases with an increase in output, there are decreasing returns to scale.
Economics
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With a change in the money supply, a vertical LM curve shifts a horizontal distance equal to
A) that change. B) that change times velocity. C) that change divided by velocity. D) that change times the simple Keynesian multiplier.
Economics
Economists may hold many different views about the economy but on this they all agree: That price is always lower in a perfectly competitive market than in a monopoly market
Indicate whether the statement is true or false
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