Suppose that both the supply of iPads and the demand for iPads decrease. One can predict that the:
A. equilibrium price and quantity will rise.
B. equilibrium price and quantity will fall.
C. equilibrium price will rise, but the change in equilibrium quantity is uncertain.
D. equilibrium quantity will fall, but the change in equilibrium price is uncertain.
Answer: D
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An auction of the leases to drill for natural gas on about 55,000 acres on the Roan Plateau in western Colorado in August 2008 generated nearly $114 million, a record high for onshore energy lease sales in the lower 48 states
What is going on in the rental market for land? A) There is a decrease in the value of marginal product for an acre on the Roan Plateau, leading to an increase in the equilibrium rental rate. B) There is an increase in the value of marginal product for an acre on the Roan Plateau, leading to a decrease in the equilibrium rental rate. C) There is an increase in the supply of acreage on the Roan Plateau, leading to an increase in the equilibrium rental rate. D) There is an increase in the value of marginal product for an acre on the Roan Plateau, leading to an increase in the equilibrium rental rate.
Demographic handicaps and discrimination are primarily responsible for the extent of poverty
Indicate whether the statement is true or false
The marginal-cost curve intersects the average-total-cost curve at the minimum point of the marginal-cost curve
a. True b. False Indicate whether the statement is true or false
Refer to the data provided in Table 11.3 below to answer the following question(s). Table 11.3ProjectTotal InvestmentExpected Rate of Return(dollars) (percentage)New computer for sales staff $250,00011Remodel for distribution center$200,000 9On-site day care center $100,000 5Employee fitness center$50,000 4Refer to Table 11.3. If the interest rate is 14%, Blackstar Drone Manufacturing should
A. fund all of the projects. B. fund only the purchase of new computers for its sales staff. C. fund the remodeling of the distribution center and the on-site day care center. D. not fund any of the projects.