Which of the following will reduce the supply of motorcycles?
a. an increase in the population age 16 to 35, the primary consumers of motorcycles
b. an increase in taxes imposed on motorcycle producers
c. a technological improvement reducing the production costs of motorcycles
d. a government study that reveals motorcycle riders, on average, live 10 years longer than those who don't ride motorcycles
B
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The break-even quantity is
a. 1250 b. 625 c. 416.67 d. 500
According to the World Bank, ________ people are classified as being in severe poverty.
A. 500,000 million B. 2.5 billion C. 100,000 million D. 800 million
You are the manager of a firm that sells its product in a competitive market at a price of $60. Your firm's cost function is C = 33 + 3Q2. The profit-maximizing output for your firm is:
A. 10. B. 6. C. 5. D. 3.
We have run merchandise trade deficits of over $70 billion since
A. 1963. B. 1969. C. 1973. D. 1983.