Question
The marginal cost of production is MC=0.3x+4, determine
the cost involved to increase production from 70 to 100 units.Solution
Find total cost function by integrating MC function. Then find total cost at 100 units and 70 units and then take their difference. TC = 0.3x^2 / 2 + 4x At x = 70, TC = 1015 At x = 100, TC = 1900 So, difference = 1900 – 1015 = 885
Which of the following fiscal measures will have the most expansionary effect on aggregate demand?
Expansionary fiscal policy in the classical model will cause aggregate demand to-----potential output?
What is the variance of first n natural numbers
The substitution effect for a commodity is
In a monopolistically competitive market, firms earn zero economic profit in the long run primarily because of:
In a situation when MRS>Px/Py, the consumer would react by:
“ All Giffen goods are inferior, but all inferior goods are not Giffen”. The statement isÂ
I f Rs. 10 crores are invested in public works and MPS is 0.25, then the increase in income would be
Money Multiplier is always
The costs of inflation are?
