Social Security benefits could be reduced in each of the following ways except
A) cutting the promised monthly benefit.
B) increasing the retirement age.
C) investing the trust fund in the stock market.
D) reducing the degree to which benefits are adjusted for inflation.
C
Economics
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When the price of a product decreases, the marginal revenue product curve in a perfectly competitive market
A) does not change. B) becomes flatter. C) shifts to the right. D) shifts to the left.
Economics
Suppose that for each firm in the competitive market for potatoes, long-run average cost is minimized at $0.20 per pound when 500 pounds are grown. The demand for potatoes is Q = 10,000/p. If the long-run supply curve is horizontal, then how many pounds of potatoes will be consumed in total?
A) 0 B) 500 C) 10,000 D) 50,000
Economics