On a graph, an increase in quantity demanded is represented by a:
a. Movement downward and to the right along the demand curve
b. Leftward shift of the demand curve
c. Rightward shift of the demand curve
d. Movement upward and to the left along the demand curve
a. Movement downward and to the right along the demand curve
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Christy's Haircuts, the sole supplier of haircuts in a small town, faces the demand schedule shown in the table above. What is Christy's marginal revenue from the 35th haircut?
A) zero B) -$5.00 C) $5.00 D) $12.50
Suppose Argyle Sachs has to choose between building a smaller sweater factory and a larger sweater factory
In the following graph, the relationship between costs and output for the smaller factory is represented by the curve ATC1, and the relationship between costs and output for the larger factory is represented by the curve ATC2. a. If Argyle expects to produce 3,600 sweaters per month, should he build a smaller factory or a larger factory? Briefly explain? b. If Argyle expects to produce 5,000 sweaters per month, should he build a smaller factory or a larger factory? Briefly explain. c. If the average cost of producing sweaters is lower in the larger factory when Argyle produces 6,500 sweaters per week, why isn't it also lower when Argyle produces 4,000 sweaters per week?
Find the real exchange rate for the following case: Assume that the representative basket of European goods and services costs 40 euros and the representative U.S
basket costs $50, and the dollar/euro exchange rate is $0.90 per euro, then the price of the European basket in terms of U.S. basket is ________.
More education and training usually lead to higher levels of
a. productivity. b. population. c. pollution. d. import protectionism.