At any given quantity, the willingness to pay in the market for gasoline is reflected in the
a. height of the demand curve at that quantity.
b. height of the supply curve at that quantity.
c. value to the producer of the last unit of gasoline sold.
d. total quantity of gasoline exchanged in the market.
a
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Which of the following conditions indicate cost minimization, assuming two inputs, labour (L) and capital (K)?
a) MPL = MPK b) MPK/PL = MPL/PK c) PK · MPK = PL · MPL d) PK = PL e) MPK/PK= MPL/PL
Other things the same, if the Fed increases the quantity of money, the supply of money curve shifts
A) rightward and the nominal interest rate decreases. B) leftward and the real interest rate increases. C) leftward and the nominal interest rate increases. D) leftward and the nominal interest rate decreases. E) rightward and the real interest rate increases.