An increase in interest rates will generally lead to a(n) ____ in present investment and a(n) ____ in future income and production

When the marginal product is increasing as the quantity increases, then as the quantity increases, the

A) average product is decreasing. B) marginal cost is decreasing. C) total cost is decreasing. D) total product is decreasing. E) fixed cost is increasing.

In a perfectly competitive market, an increase in market demand

A) raises the price in the short run and attracts new firms in the long run. B) raises the price in the short run and the long run. C) lowers the price in the short run and in the long run. D) has no effect on the price in either the short run or the long run because the firms are price takers.