Refer to the graph below. If the output level increases from Q2 to Q3, then the:
A. Marginal cost of the product becomes closer to its marginal benefit
B. Marginal cost of the product increases while its marginal benefit decreases
C. Marginal cost of the product decreases while its marginal benefit increases
D. Marginal cost of the product stays constant while its marginal benefit increases
B. Marginal cost of the product increases while its marginal benefit decreases
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The "law of demand" means that the demand for any scarce good
A) is completely elastic. B) cannot be completely inelastic. C) must be inelastic. D) is only a short-run demand. E) cannot be elastic.
Which of the following would create the most money?
(A) The initial deposit is $3,000 and the required reserve ratio is 10 percent. (B) The initial deposit is $7,500 and the required reserve ratio is 25 percent. (C) The initial deposit is $4,500 and the required reserve ratio is 15 percent. (D) The initial deposit is $6,500 and the required reserve ratio is 20 percent.