The law of increasing additional costs is due to
A) taxes.
B) scarcity.
C) the fact that it is more difficult to use resources efficiently the more society produces.
D) the fact that resources are not perfectly adaptable for alternative uses.
D
Economics
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_____ represents the relation between total expenditures, or total spending, and the price level
a. Gross National Product b. Inflation c. Real Gross Domestic Product d. Aggregate supply e. Aggregate demand
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Which of the following conditions is TRUE for a monopolist?
A) MR < P B) MR = P C) MR = AFC D) MR < AVC
Economics