Which of the following is considered a renewable natural resource?
A. Natural gas.
B. Copper.
C. Solar power.
D. Coal.
Answer: C
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Refer to the table below. If Fresh Laundry is currently producing 10 quality units, to maximize profit, Fresh Laundry should ________ the number of quality units as the current quality marginal revenue is ________ its marginal cost.
Fresh Laundry is a firm that produces laundry detergent. The table above summarizes Fresh Laundry's product quality marginal revenue and marginal cost at various quality levels.
A) decrease; equal to
B) decrease; less than
C) maintain; less than
D) maintain; equal to
Established in 1862, the Department of Agriculture's functions during the 19th and early 20th century included all of the following except
a. research and experimentation on plant and animal breeding. b. regulation of agricultural prices and output. c. distribution of information through publications and experiment stations. d. regulation of quality through inspection of meat and dairy products.
Economists cite some beneficial effects of price discrimination. What are these benefits and how do the antitrust laws treat price discrimination?
Reducing the budget deficit by cutting government spending could conceivably:
A. increase income if interest rates rise enough and government spending is more productive than private investment. B. increase income if interest rates fall enough and private investment is more productive than government spending. C. decrease income if interest rates rise enough and private investment is more productive than government investment. D. decrease income if interest rates fall too much and private investment is more productive than government investment.