Marginal cost is equal to the
A) change in total cost divided by the change in output.
B) change in average total costs divided by the change in output.
C) change in total product divided by the change in output.
D) change in average product divided by the change in output.
Answer: A
Economics
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If a bank has $50,000 in excess reserves at the end of a business day and the required reserve ratio is 20 percent, the bank can increase its profits by: a. keeping the excess reserves
b. loaning out $40,000. c. loaning out $50,000 to another bank. d. borrowing $50,000 to remove the excess reserves. e. keeping $10,000 and depositing $40,000 with the Fed.
Economics
A given income-expenditure diagram always assumes a variable price level.
Answer the following statement true (T) or false (F)
Economics