Generally, opportunity costs increase and the production possibilities frontier bows outward. Why?
A) Unemployment is inevitable.
B) Resources are not equally useful in all activities.
C) Technology is slow to change.
D) Labor is scarcer than capital.
B
Economics
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The table above shows the demand and costs for a single-price monopolist. The maximum economic profit this firm can make equals
A) $1,390. B) $1,550. C) $1,580. D) $2,400.
Economics
The demand for money is given by Md = $Y (0.3 - i), where $Y = 120 and the supply of money is $30. a. What is the equilibrium interest rate? b. If the central bank wants to decrease i by 2%, at what level should it set the supply of money?
What will be an ideal response?
Economics