In Figure 4.4, supply is perfectly inelastic in graph:
A. A.
B. B.
C. C.
D. D.
Answer: A
Economics
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In the above figure, if there is a negative relationship between the variables x and y, which of the graphs above can be used to indicate this?
A) Figure A B) Figure B C) Figure C D) both Figure A and Figure C
Economics
[Appendix material: calculus required] Suppose total benefits and total costs are given by B(Y) = 150Y ? 10Y2 and C(Y) = 5Y2. Then marginal costs are:
A. 2.5Y. B. 5Y. C. 10Y. D. 25Y.
Economics