Which of the following will change the slopes of your indifference curves between gasoline and movie rentals?
A) a change in your preferences for either of the two goods
B) only a change in the price of either of the two goods
C) only a change in your income
D) Both a change in the price of either good and a change in income will change the slopes of your indifference curves.
A
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Which of the following is not true about the Federal Reserve banks?
A. They serve as bankers' banks B. They are privately owned but government-controlled C. Unlike other banks, they are not motivated by profits D. They compete with commercial banks in their basic functions
In order to maximize profit, a firm that produces its output in two plants will allocate total output between the two plants so that
A. marginal cost for the firm is equal to the sum of the plants' marginal revenue. B. marginal cost is equal for the two plants. C. marginal revenue is equal for the two plants. D. both a and b E. all of the above