A. continue to decrease B. remain unchanged C. continue to increase D. be equal to the total cost Correct Answer:…
A. MP is greater than AP B. MP is less than AP C. MP is equal to AP D. MP…
A. output is transformed into input B. machines replace human effort C. input is transformed into output D. there is…
A. consumers B. producers C. auction D. government Correct Answer: Option D - government
A. an increase in equilibrium price and a decrease in equilibrium quantity B. a decrease in equilibrium price and an…
A. 0.80 B. 1.25 C. 2.00 D. 10.00 Correct Answer: Option B - 1.25
A. perfectly elastic B. perfectly inelastic C. fairly inelastic D. fairly elastic Correct Answer: Option B - perfectly inelastic
A. supply always exceeds demand B. demand always exceeds supply C. price is an incentive to consumers D. price is…
A. utility is measureable B. utility is not measurable C. total utility equals marginal utility D. total utility is constant…
A. negatively sloped B. parallel to the price axis C. parallel to the quantity axis D. positively sloped Correct Answer:…