Suppose Ben owns a small company that makes kites. The market for kites is perfectly competitive, and kites sell for $25 each. Ben's total production costs vary depending on the number of kites he makes each day, as shown in the accompanying table. Number of kites Per DayTotal Cost Per Day ($)0100111021263148417252006235 What is the profit-maximizing number of kites for Ben to make each day?
A. 0
B. 3
C. 5
D. 4
Answer: D
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Which statement is true?
A. We have had at least one recession in the 1940s, 1950s, 1960s, 1970s, 1980s, and 1990s. B. We have had at least two recessions in any one decade since World War II. C. We have had at least three recessions in all of the decades since World War II. D. None of the choices are true.
If a Japanese company sells 200 VCRs to a French company and uses the money to buy U.S. government bonds, the Japanese merchandise trade balance ________, and the Japanese financial account balance ________
A) rises; rises B) rises; falls C) falls; falls D) falls; rises
Consider Sam and Linda both drive a relatively inefficient sport utility vehicle (SUV). Sam has a lease that doesn't expire for three years whereas Linda owns her sport utility vehicle free and clear
If the price of gasoline was to increase by fifty percent, which of these statements is most likely true? A) Linda will have a less elastic response than Sam. B) Sam will have a less elastic response than Linda. C) Sam and Linda will have identically elastic responses. D) Sam will have a more elastic response than Linda.
Most economists agree that eliminating unemployment insurance would increase the amount of unemployment in the economy
a. True b. False Indicate whether the statement is true or false