Use the information in the table below.Total salesIndustry 1Firm 1$5.3mFirm 2$199,000Firm 3$2.6mFirm 4$850,000What percent of total sales does Firm 1 make up in Industry 1?
A. 89%
B. 53%
C. 59%
D. 25%
Answer: C
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A monopolist faces a downward sloping demand curve that is equal to which of the following?
a. The prevailing market price. b. The market demand curve. c. Its marginal cost curve. d. Marginal revenue.
An airline is considering adding a flight from Chicago to Sioux Falls. Total cost of the flight is $5,500 . Variable cost is $2,000 . Revenue from the flight is expected to be $3,000 . Should the flight be added?
a. No, the revenue ($3,000 . is below the cost ($5,500.) b. No, the addition to profit is very small and not worth the effort. c. Yes, profit increases by $1,000 ($3,000 ? $2,000.) d. Yes, profit increases by $3,000.
A $25 government subsidy paid directly to buyers of jeans will result in
a. a downward shift in the demand curve for jeans by $25. b. an upward shift in the demand curve for jeans by $25. c. a downward shift in the supply curve for jeans by $25. d. an upward shift in the supply curve for jeans by $25.
How do automatic stabilizers, on both the expenditure and revenue sides of the budget, respond during a recession?
What will be an ideal response?