Zane's Vanes is a service that restores old weather vanes. Zane has just spent $125 purchasing a 1920s-era weather vane which he expects to restore and sell for $500 once the work is completed
After having spent $125, Zane realizes that he will need to spend an additional $200 on materials to complete the restoration. Alternatively, he can sell the weather vane without restoring it for $200. What is his marginal benefit if he sells the weather vane without restoring it?
A) $75 B) $125 C) $200 D) $300
C
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If N is the working-age population, Q is the labor force, and U is the number of unemployed, then the employment/population ratio is measured as
A) N/Q B) U/Q C) (Q-U)/N D) Q/N
In the economy of Talikastan in 2015, consumption was $600, exports were $300, GDP was $1300, government purchases were $250, and investment was $300 . What were Talikastan's imports in 2015?
a. -$150 b. -$200 c. $200 d. $150
Curly is offered the following gamble: a 25 percent chance of winning $1,500 and a 75 percent chance of losing $500. This is a(n):
A. fair gamble. B. unfair gamble. C. better-than-fair gamble. D. almost-fair gamble.
A lesson from the Brazilian experiment was that:
a. infant industry protection is almost never successful. b. there are many determinants other than market price that also factor into an industry's success—firms had supplier difficulties and were hampered by excessive regulation. c. government usually knows better than the market whether an industry has potential. d. when politicians get involved, rational decisions and good business practices are more difficult.