What is a marginal cost?
What will be an ideal response?
A marginal cost is the additional cost resulting from a small increase in the production of a good.
Economics
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Which is not true of the Fed?
A. US central bank B. twin mandates of max employment and price stability C. OMO is its central tool D. totally centralized in DC E. responsible for monetary policy, bank regulation, and financial system stability
Economics
The substitution effect occurs because when the price of one good increases, consumers will buy fewer substitute goods
a. True b. False Indicate whether the statement is true or false
Economics