Cars produced by General Motors in Mexico would be included in U.S. Gross Domestic Product
a. True
b. False
Indicate whether the statement is true or false
False
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The figure illustrates the demand for eggs. At what price will egg sellers maximize their total revenue?
A) above $0.75 a dozen B) $0.75 a dozen C) less than $0.75 a dozen D) $1.50 a dozen
Consider an investment with the following payoffs and probabilities: State of the Economy Probability Return Stability .50 1,000 Good Growth .50 2,000 Determine the expected return for this investment
a. 1,300 b. 1,500 c. 1,700 d. 2,000 e. 3,000
A straight line or curve can shift when a factor not included on the vertical axis or horizontal axis changes
a. True b. False Indicate whether the statement is true or false
Refer to the diagram, where variable inputs of labor are being added to a constant amount of property resources. Average variable cost will be at a minimum when the firm is hiring:
A. Q 3 workers.
B. Q 2 workers.
C. Q 1 workers.
D. more than Q 3 workers.