Refer to the production possibilities frontier in the figure above. More of good X must be given up per unit of good Y gained when moving from point b to point a than when moving from point c to point b. This fact
A) illustrates decreasing opportunity cost.
B) illustrates increasing opportunity cost.
C) indicates that good X is more capital intensive than good Y.
D) indicates that good Y is more capital intensive than good X.
B
Economics
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When a firm is a price maker
A) price is equal to marginal revenue. B) price is greater than marginal revenue. C) price is less than marginal revenue. D) price is equal to marginal cost.
Economics
Suppose a poverty program has a basic benefit of $5,000 with zero deductions, and a marginal tax rate of 0.50. The breakeven level of income is
A. $2,500. B. $10,000. C. $15,000. D. $25,000.
Economics