Refer to the production function. The total product at 4 units equals ________ units
Fill in the blank(s) with correct word
Substituting 4 for X, we get Y= 10 (4 ) + 20 (4 )2 - (4 )3
we obtain Y = 40 + 320 - 64
= 360 - 64
= 296 units
Economics
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Using this consumption function, autonomous consumption is
A) $0. B) between $1 and $2 trillion. C) more than $2 trillion and less that $5 trillion. D) more than $5 trillion and less than $8 trillion. E) more than $8 trillion.
Economics
You choose to get a flu shot each fall and your roommate chooses not to get a flu shot. For your roommate, you getting a flu shot is a
A) positive externality. B) negative externality. C) transactions cost. D) property right.
Economics