The appropriate contract for the development of a one-of-a-kind submarine employing a considerable amount of new technology is a fixed fee contract
a. True b. False
b
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The table above shows the marginal costs and marginal benefits of college education. The marginal private cost of college education at the efficient quantity of enrollment is
A) $8,000 per year. B) $12,000 per year. C) $14,000 per year. D) $16,000 per year.
The Bureau of Labor Statistics unveils an unemployment rate figure every
A) two weeks. B) month. C) two months. D) quarter.
Firm A is a monopsonist that faces a labor supply elasticity of 2.4 whereas Firm B is a monopsonist that faces a labor supply elasticity of 1.4. Which of these monopsonists pays a higher wage?
A) Firm A B) Firm B C) They both pay the same. D) It is impossible to tell which pays a higher wage.
Situation 37-2 Dan and Ann live in the same community and both can participate in two activities, producing and stealing. Refer to Situation 37-2. If Dan's MB/MC ratio for producing is currently greater than his MB/MC ratio for stealing, then he will
A) steal more and produce less. B) steal less and produce less. C) produce more and steal more. D) produce more and steal less.