When a consumer moves from a lower to a higher indifference curve, the marginal rate of substitution automatically increases
Indicate whether the statement is true or false
FALSE
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In the figure above, the rightward shift from the demand for loanable funds curve DLF1 to the demand for loanable funds curve DLF2, could be the result of
A) a decrease in expected profit. B) a fall in the interest rate. C) an increase in wealth. D) a rise in the interest rate. E) an increase in expected profit.
George Webb Restaurant collects on the average $5 per customer at its breakfast & lunch diner. Its variable cost per customer averages $3, and its annual fixed cost is $40,000 . If George Webb wants to make a profit of $20,000 per year at the diner, it will have to serve__________ customers per year
a. 10,000 customers b. 20,000 customers c. 30,000 customers d. 40,000 customers e. 50,000 customers