Refer to Table 16-3. Suppose Julie's marginal cost of providing this service is constant at $7 and she decides to charge each customer according to his or her willingness to pay
What is Julie's total revenue and how many hours of service will be purchased?
A) 1 hour and her total revenue = $7 B) 4 hours and her total revenue = $39
C) 4 hours and her total revenue = $28 D) 5 hours and her total revenue = $35
B
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The risk premium that risk averse investors will demand on a security will be in proportion to the __________ of the portfolio
A) systematic risk B) nonsystematic risk C) risk of the worst case return D) diversification
Which of the following observations is true of subsidies? a. They act as barriers to trade
b. They reduce the amounts of actual labor, raw material, and capital costs of production. c. They are capable of distorting trade patterns. d. They reduce inefficiencies.
If in some year real GDP was $5 trillion and the GDP deflator was 200, what was nominal GDP?
a. $2.5 trillion. b. $10 trillion. c. $40 trillion. d. $100 trillion.
Refer to the information provided in Figure 5.7 below to answer the question(s) that follow.
Figure 5.7The above figure represents the market for pumpkins both before and after the imposition of an excise tax, which is represented by the shift of the supply curve.Refer to Figure 5.7. The amount of the tax is ________ per pumpkin.
A. $1.25 B. $1.75 C. $3.00 D. $7.25