A firm is producing the profit-maximizing amount of output when it is producing where its ________ curve intersects its ________ curve
A) MC; MR
B) MC; AVC
C) MC; ATC
D) MC; TR
A
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The families that applied for the Moving to Opportunity program wee assigned into three groups. Which of the following does not describe one of those groups?
A) People in one group received nothing but were able to live in public housing with their rents fixed at 30% of their household incomes. B) People in one group were moved to housing in neighborhoods with poverty rates of less than 10%, and those people received vouchers to pay for 100% of their rent. C) People in one group received a voucher they could use to help pay for private housing, with the voucher paying any rent beyond 30% of their household incomes. D) People in one group received a voucher they could use to help pay for private housing, with the voucher paying any rent beyond 30% of their household incomes, but the voucher was good only if the family moved to a neighborhood with a poverty rate of less than 10%.
Substitute goods are goods that are:
a. jointly consumed. b. competing for consumer spending. c. used late in the game. d. inferior. e. normal.
Arlene makes earrings in the shape of the mascot of a local university. Last year Arlene made 250 pairs of earrings, which she sold to the university bookstore for $10 each. Arlene works out of her home, so her only cost is $3 per pair for materials and $85 for tax help. If Arlene didn't produce earrings, she would spend her time babysitting her nephews and make about $500 per year. Which of the following is TRUE?
A good that people must actually consume before they can determine qualities is called
A) a credence good. B) a search good. C) an experience good. D) a persuasive good.