Which of the following best exemplifies negative marginal product?
a. Hugo’s Pet Supply has so many dog groomers on staff that most days some of them have nothing to do.
b. Each new supermarket WRV Foods opens in Springfield is a little less successful than the last.
c. Duke’s Auto Sales has had to turn away potential customers because all of its salespeople are busy.
d. Tri-Cities Paving has four fully-staffed cement mixers working at full capacity.
a. Hugo’s Pet Supply has so many dog groomers on staff that most days some of them have nothing to do.
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We can be more confident that standard deviation is a good measure of the risk of an asset (held in isolation) when
A) the number of different possible returns on the asset rises. B) the probabilities attached to the possible returns on the asset are less equal. C) the possible returns on the asset are distributed symmetrically around the mean. D) the asset has a longer maturity.
Which of the following is true about the market equilibrium? a. As the price increases, the quantity demanded and the quantity supplied increases
b. As the price increases, the quantity demanded and the quantity supplied decreases. c. As the price increases, the quantity demanded increases and the quantity supplied decreases. d. As the price increases, the quantity demanded decreases and the quantity supplied increases. e. As the price increases, neither the quantity demanded nor quantity supplied change.
Even when the demand for one good is high, the price of the good is also affected by supply. The textbook illustrates this by comparing the price of two items that were auctioned on the same day
Which of the following describes the results of the auction? A) A letter written by Abraham Lincoln sold for a higher price than a letter written by John Wilkes Booth. B) A letter written by John Wilkes Booth sold for a higher price than a letter written by Abraham Lincoln. C) A letter written by Abraham Lincoln was sold for a higher price than a letter written by Adam Smith. D) A letter written by John Wilkes Booth sold for a higher price than a letter written by Lee Harvey Oswald.
Which of the following types of goods would most likely be classified as a government-inhibited good?
A) heroin B) marijuana C) tobacco D) All of the above are correct.