Given the information in Scenario 4.3, suppose that the price of erasers increases slightly from $10. How will this affect the total revenue collected by the firm?
A) Total revenue will increase.
B) Total revenue will not change.
C) Total revenue will decrease.
D) There will be an indeterminate change in total revenue.
A
Economics
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Aggregate demand grows because
a. patent laws protect and stimulate new inventions. b. there is more machinery and technology improves. c. the government increases its spending, a growing population increases consumer spending, and the Fed increases the money supply. d. All of the above are correct.
Economics
If 5 million workers are unemployed and 45 million workers are employed, then the unemployment rate is
A. 5%. B. 10%. C. 11.1%. D. 40%.
Economics