When we graph consumption as a function of national income rather than as a function of ________, the slope of this consumption function is the ________.
A) disposable income; MPC B) personal income; MPS
C) disposable income; MPS D) personal income; MPC
Question 2
Cost-price pricing typically does not result in profit-maximization. As a result, economists have two views of cost-plus pricing. One of these views is
A) cost-plus pricing is a good way to approximate the profit-maximizing price when marginal revenue or marginal cost is difficult to determine.
B) cost-plus pricing is more likely to lead to profit-maximization for monopolistically competitive firms than for oligopoly firms.
C) cost-plus pricing is more likely to result in profit-maximization the more elastic the firm's demand curve is.
D) cost-plus pricing is more likely to lead to profit-maximization for large firms than for small firms.
African bush (savanna) elephant in Etosha National Park, Namibia.
Hepatic Acinus Model of Liver Function
Sketch the graph using the tables providing. Determine if each function is continuous or ...