Refer to Table 13-4. Victoria's profit-maximizing output is where
A) total profit equals $3.
B) marginal revenue and marginal cost both equal $4.
C) marginal cost is at its minimum value.
D) marginal revenue and marginal cost both equal $3.
D
Economics
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Suppose that the production function is Y = AK0.7L0.3, the number of workers equals 800, the capital stock is $150,000, and total factor productivity is 3
What is the value of real GDP? What will happen to real GDP if total factor productivity doubles?
Economics
If the marginal propensity to consume (MPC) is 0.80, and if policy makers wish to increase real GDP $200 billion, then by how much would they have to change taxes?
A. ?$240 million. B. ?$200 million. C. ?$180 million. D. ?$50 million.
Economics