Figure 3-5
At present, faculty in the Economics Department teach introductory and upper-level courses. Which graph in Figure 3-5 represents the change in the production possibilities of the Economics Department after a policy of using graduate students in addition to faculty to teach introductory sections was implemented?
A. 1
B. 2
C. 3
D. 4
Answer: C
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Which of the following is not held constant along a given supply curve for a good?
A. Taxes. B. The cost of factors of production. C. Technology. D. Price.
A major reason for the increase in school attendance by children between 1999 and 2015 throughout the world was:
A. the creation of labor laws forbidding child labor. B. the abolishment of school fees. C. the imposition of legislation that forced children to become educated. D. an increase in the minimum wages adults could earn.
Consider the market for dollars. If the exchange rate rises from 2 pesos per dollar to 4 pesos per dollar
A) the supply curve of dollars shifts leftward. B) the supply curve of dollars shifts rightward. C) there is an upward movement along the supply curve for dollars. D) there is a downward movement along the supply curve for dollars.
What is the marginal revenue from selling the third unit?
a. $50 b. $100 c. $150 d. $0