Marginal cost is the
a. change in total cost resulting from the purchase of one more unit of the variable input.
b. change in total cost resulting from the production of one more unit of output.
c. difference between total fixed cost and total variable cost.
d. difference between total cost and total expenditure.
b
Economics
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When the monetary base increases by $2 billion, the quantity of money increases by $10 billion. Thus, the money multiplier equals
A) 0.2. B) 5. C) 20.0. D) 0.5.
Economics
Based solely on the graph showing the effective federal funds rate, if you were a borrower with the goal of locking in a thirty-year mortgage with a very low interest rate, which of the following years would have been the best one to take out your loan?
a. 1970
b. 1975
c. 1981
d. 2009
Economics