Refer to Figure 16.1. If a firm expects that consumer preference for its product will increase in the future, this is best represented by a movement from
A) point A to point C.
B) point B to point A.
C) point A to point B.
D) point C to point A.
C
Economics
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If the money supply in an economy equals $1,000 and nominal GDP equals $3,000 . then according to the equation of exchange, velocity of money: a. equals 1/3
b. equals 3. c. equals 3 million. d. cannot be determined since we do not know anything about prices. e. cannot be determined since we do not know anything about real GDP.
Economics
If the market price is $25 in a perfectly competitive market, the marginal revenue from selling the fifth unit is
A) $5. B) $12.50. C) $25. D) $125.
Economics