A radio manufacturer is experiencing theft problems at its warehouse and has decided to hire security guards to reduce the thefts. The firm wants to minimize the net cost of warehouse thefts. 
Given the above info, if each security guard is paid $200 a week and the cost of a stolen radio is $50, how many security guards should the firm hire?
A. 1
B. 2
C. 3
D. 4
E. 5
Answer: D
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Competition keeps prices lower for consumers. So why do we have patent laws?
What will be an ideal response?
An increase in demand could arise from which of the following factors
a. an increase in income b. a decrease in the price of a complement c. an increase in the price of a substitute d. all of the above
Inflation affects production decisions because it
A. Causes businesses to be more cautious since the future appears more uncertain. B. Causes businesses to focus more on the future. C. Decreases input costs. D. Reduces speculation.
Use the above figure. When the budget line rotates from "b" to "c"
A. more units of J and more units of K will be purchased. B. fewer units of J and fewer units of K will be purchased. C. more units of J and fewer units of K will be purchased. D. fewer units of J and more units of K will be purchased.