Suppose a farmer is a price taker in soybeans with cost functions given by TC = .1q2 + 2q + 30 MC = .2q + 2 Suppose the farmer has to purchase a license for $50 per period in order to stay in business. In this case, its new total cost function is

In the IS model, assuming that the real interest rate does not change, an increase in autonomous ________ leads to an increase in the equilibrium level of ________

A) investment; consumption B) consumption; investment C) net exports; investment D) all of the above E) none of the above

For a profit-maximizing competitive firm, the value of marginal product curve is

a. always rising. b. falling only when marginal product is rising. c. the labor supply curve. d. the labor demand curve.