Between 1994 and 2000 the poverty rate ____ and the number of people on welfare _____.
Fill in the blank(s) with the appropriate word(s).
fell; fell
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According to the above table, if the marginal revenue product is $24, how many workers will the profit maximizing monopsonist hire?
A) 4 B) 5 C) 6 D) 7
If everyone in an economy buys and sells goods at market-wide prices:
A. people will pay the same prices, so everyone's marginal rate of substitution will be the same. B. people will pay the same prices, but will have different marginal rates of substitution. C. people will pay different prices, but will have the same marginal rates of substitution. D. people will pay different prices and therefore will have different marginal rates of substitution.
To answer the question, refer to the following table showing a demand schedule: 
As output increases from 1,000 to 1,400 what is marginal revenue?
A. -$75 B. $50 C. -$400 D. -$25 E. $25
If the demand function for a particular good is Q = 50 ? 4P, then demand at a price of $10 is:
A. unit elastic. B. elastic. C. inelastic. D. Elasticity cannot be determined.