Use the above figure. The profit-maximizing output and price is
A) 600 and $16, respectively.
B) 600 and $10, respectively.
C) 600 and $8, respectively.
D) 800 and $10, respectively.
A
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Many online auctions end when a certain amount of time has gone by without a bid. This causes bidders to place several last-minute bids. This practice is known as ________
A) sniping B) jump bidding C) nonforcing D) signing off
Which of the following are not valid arguments against the effectiveness of the fiscal stimulus bill?
a. Employment continued to fall into early 2010. b. Without stimulus recessions come to an end naturally. c. State and local government spending increased. d. Monetary policy played a large role in stimulating the economy.
Figure 2-2
Assume that U.S. agricultural land is used either to raise cattle for beef or to grow wheat. represents the production possibility frontier for beef and wheat. Production at point H is
a.
unattainable given currently available technology and resources
b.
attainable by more fully employing already available resources
c.
attainable by using better technology which is already available
d.
attainable if beef production drops to zero
e.
attainable if all available resources are used to produce wheat
Select the letter of the diagram in Figure 28.1 that best represents the effect of each event on the United States wheat market, ceteris paribus: The dollar increases in value in the foreign exchange markets. (See Figure 29.4.)
A. a. B. b. C. c. D. d.