Available data on the generation of MSW in the United States indicates that
a. durable goods represent the largest proportion by weight of all product groups
b. plastics are the largest proportion by weight across all materials groups
c. containers and packaging are the largest proportion by weight of all product groups
d. none of the above
c. containers and packaging are the largest proportion by weight of all product groups
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If 50 percent of the population in a country is employed and average labor productivity equals $30,000, then real GDP per person equals:
A. $50,000. B. $30,000. C. $15,000. D. $60,000.
What role do households play in the market for inputs? What role do firms play?
What will be an ideal response?
Refer to Table 16-3. Suppose Julie's marginal cost of providing this service is constant at $7 and she charges each customer according to his or her willingness to pay instead of a uniform price of $7. Which of the following statements is true?
A) Julie has converted the consumer surplus (from a uniform price) into economic profit. B) Julie's has converted the producer surplus (from a uniform price) into consumer surplus. C) Julie is worse off because the demand for her services is reduced. D) Julie's customers are better off because their consumer surplus has increased.
The concept of diminishing marginal utility is the idea that;
(a) Total satisfaction will decrease as more units of a good are consumed; (b) The satisfaction gained from each additional unit of a good will decrease; (c) Total utility will become negative; (d) Both (a) and (c) describe it.