Refer to the table below. If the cost per unit of advertising is constant at $325, what is the level of advertising per week that maximizes the industry joint profit?
Suppose the egg industry is made up of only the three farms above; Happy Chickens, Special Chickens, and Superior Chickens.
A) 1
B) 2
C) 3
D) 4
D) 4
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If Y = A × N × (75 + K/N), where K = 1000, N = 20, and A = 10, what happens if K doubles and N doubles?
A) Y is unchanged. B) Y increases by 50%. C) Y doubles. D) Y quadruples.
A certain magazine offers its subscribers the opportunity to "Buy Now and Save." If at the time their subscription renewal is due they agree to pay for 2 years rather than 1, the renewal price will be $50 per year rather than the usual $60 per y
At what interest rate will the consumer, who is certain she will subscribe to the magazine for the next 2 years, decide to "Buy Now and Save"? A) any interest rate under 50 percent B) any interest rate over 1.5 percent C) any interest rate over 150 percent D) any interest rate under 5 percent E) She will always take this offer if she is absolutely certain to buy the magazine for another 2 years.
A production possibilities curve has "good X" on the horizontal axis and "good Y" on the vertical axis. On this diagram, the opportunity cost of good X, in terms of good Y, is represented by the:
a. distance to the curve from the horizontal axis. b. distance to the curve from the vertical axis. c. distance from the origin to the curve. d. change in Y for each change in X along the curve.
Figure (a) represents the domestic demand and supply of televisions. Suppose free trade is allowed and the current world price of televisions is P1 as shown in Figure (b). As a result of free trade the domestically produced quantity would
a. fall to Q1.
b. rise to Q2.
c. fall to Q3.
d. rise to Q4.