Suppose that for the past two months, you have studied economics one hour a day. You now decide to study economics two hours a day. For the past two months
A) your marginal cost of studying economics for an hour must have exceeded its marginal benefit.
B) the marginal cost of studying economics must have fallen.
C) your marginal benefit from studying economics an hour must have been greater than its marginal cost.
D) the opportunity cost of studying economics must have risen.
C
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Fact: Very few skyscrapers are found on rural farmlands, far outside the city. Why?
A) As opposed to city property, farmland cannot support a skyscraper's tremendous weight per square foot. B) Skyscrapers would spoil the view of the rural landscape. C) The opportunity cost of building skyscrapers in rural areas is too high. D) There are far too many dangers involved.
If an initial increase in investment spending of $30 caused equilibrium output to increase by $120, what is the value of the MPC?
a. 0.25 b. 0.50 c. 0.60 d. 0.75 e. 0.80