Refer to the accompanying figure. The equilibrium price is ________, and the equilibrium quantity is ________.

The second stage of production illustrates the concept of____________, the stage where output increases at a diminishing rate as more units of a variable input are added.

Fill in the blank(s) with the appropriate word(s).

If the marginal propensity to consume (MPC) is 0.80, the value of the spending multiplier is:

A. 2. B. 5. C. 8. D. 10.