Hunter is an ambitious, competitive person who has always tried to be the best at everything he does. Consider the following job options facing Hunter and choose the option that will likely afford him the highest wage
a. elementary school teacher who works 9 months of the year
b. manager in a large firm who earns an annual salary with no potential for bonuses or commissions
c. salesperson who earns a small base salary plus a percentage of the sales he makes
d. local television news anchor who works during the day
c
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If, regardless of price, the quantity supplied is a constant amount, then the supply curve is:
A. horizontal. B. vertical. C. upward sloping. D. downward sloping.
According to the In the News article, "A "War on Coal"?,"
A. The Obama administration concluded that the job losses from regulation are not worth the reduction in pollution. B. The Obama administration is attempted to cut air pollution from coal. C. The coal industry is expanding and producing acid rain. D. The Obama administration wanted to adopt new rules to reduce water pollution from coal mining.
Assume that A and B are both priced at $1 per unit and that Mary has $10 to spend on A and B. She buys 6 units of A and 4 units of B. The marginal utility of the final unit of A bought is 12 and that of B is 8. This indicates that:
A. Mary's consumption is in equilibrium B. Given another dollar, Mary should buy an additional unit of B C. In order to maximize utility, Mary should buy more of B and less of A D. In order to maximize utility, Mary should buy more of A and less of B
Refer to the graph below. When the total revenue curve reaches a maximum, marginal revenue is:
The following graph shows a total revenue curve for a monopolist.
A. Positive
B. Negative
C. Zero
D. Greater than price at that level of output