Which of the following is NOT demonstrated by a production possibility curve?
Necessity for choice due to scarcity
he market price __________ the equilibrium price.
can be higher than, but never lower than
can be lower than, but never higher than
can be higher than, or lower than
is always equal to
he poverty line is set:
by the U.S. Bureau of the Census (based on family food budgets).
at the same income level right now as it’s been since 1982.
so high that over 30% of all Americans are officially poor.
by the United Nations for every country in the world.
f a monopolist has a straight-line demand curve, then its marginal revenue curve will:
be the same as the demand curve.
fall twice as quickly as the demand curve.
lie below the demand curve at all points.
cross the demand curve.
As long as total utility is increasing, we know that marginal utility is:
A key reason that our gasoline prices elevated rapidly from 2006 to 2008 was:
tight global supplies and high prices.
the war in the Middle East.
greed by oil exporting countries.
n order for real wages to grow:
productivity must grow.
productivity must fall.
money wages must grow.
money wages must fall.
he substitution effect and the output effect work in the:
same direction some of the time.
same direction all of the time.
opposite direction some of the time.
opposite direction all of the time.
he law of demand holds for:
individuals, but not for markets.
markets, but not for individuals.
both individuals and for markets.
neither individuals nor for markets.
A firm will maximize its profits or minimize its loss at the output where:
the difference between price and marginal cost is at its maximum.
total cost equals total revenue.
marginal cost equals marginal revenue.
total revenue equals variable cost
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more