Aggregate demand includes
a. only the quantity of goods and services households want to buy.
b. only the quantity of goods and services households and firms want to buy.
c. only the quantity of goods and services households, firms, and the government want to buy.
d. the quantity of goods and services households, firms, the government, and customer abroad want to buy.
d
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Allowing free trade can lead to greater output because of the principle of: a. absolute advantage
b. rule of 70. c. comparative advantage. d. scarcity.
Which of the following is true about where a profit-maximizing monopoly will produce on a linear demand curve when it has positive marginal costs?
A. It will produce output where MR < 0. B. It will produce output where MR = 0. C. It will produce output on the elastic portion of the demand curve. D. It will produce output on the inelastic portion of the demand curve.