The maximum price that consumers are willing to pay for the hundredth unit of a good can be found as
a. the height of the supply curve at a quantity of 100.
b. the height of the demand curve at a quantity of 100.
c. the difference between the height of the supply and demand curves at a quantity of 100.
d. none of the above.
B
You might also like to view...
Supposed actual investment is greater than planned investment at the current level of output in 2010. Given this information, we know that
A) GDP will tend to increase over time. B) firms' stock of inventories must have increased unexpectedly in 2010. C) saving must be less than planned investment. D) saving must be equal to planned investment.
Answer the next question based on the following data. All figures are in billions of dollars.Government purchases$10Consumption115Gross investment35Consumption of fixed capital7Exports11Imports14 This nation's GDP is ________.
A. $163 billion B. $164 billion C. $157 billion D. $171 billion