List four things that can shift the demand for an input
What will be an ideal response?
(1.) A change in the demand for outputs.
(2.) A change in the quantity of complementary or substitutable inputs.
(3.) A change in the price of another input.
(4.) Technological change.
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Which of following was a period of below-average economic growth in the United States?
A) the 1920s B) the 1960s C) the 1930s D) all of the above
Which of the following is an example of market failure?
a. Public goods. b. Externalities. c. Lack of competition. d. all of these.
A disadvantage of options as instruments of performance-related rewards is:
a. that it exposes the executives to market volatility. b. that it increases opportunistic behavior on the part of the employees who expect to earn these incentives. c. that the actual monetary gains from such incentives are usually lower than other performance-related incentives provided by organizations. d. that once an option has been exercised and the executive has sold her shares it will have no continuing effect on her incentives to make better future decisions.
Consider a monopoly where the inverse demand for its product is given by P = 50 ? 2Q. Total costs for this monopolist are estimated to be C(Q) = 100 + 2Q + Q2. At the profit-maximizing combination of output and price, deadweight loss is:
A. $32. B. $128. C. $64. D. cannot be determined with the given information.