Consider a closed economy without the government. If the GDP of the economy is $63,000 and the consumption in the economy is $45,000, the savings rate in the economy is:

The change in cost that results from a one-unit increase in output is called the

A) average fixed cost. B) per-unit variable cost. C) per-unit total cost. D) marginal cost. E) average cost change.

A monopolist in the radio industry has two radio-making plants. The marginal cost of radio production by Plant A is $4Q (where Q is the number of radios produced) and the marginal cost of radio production by Plant B is always $16. If the demand curve for radios is downward sloping, the monopolist will

A. never produce radios at Plant A. B. always produce four times as many radios at Plant B as at A. C. never produce more than four radios at Plant A. D. produce radios at Plant A only as a last resort.