Which of the following sellers is most able to perfectly price discriminate?
A) a college or university
B) the post office
C) a clothing store
D) a grocery supermarket
A
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The federal share of Medicaid financing, or federal matching assistance percentage (FMAP), ranges from a minimum of _____ percent in 13 high-income states to _____ percent in Mississippi.
a. 50; 60 b. 25; 50 c. 50; 75 d. 25; 75
In a production possibilities frontier graph, the cost of producing more units of a good is measured by the
A. dollar value of the resources used to produce the good. B. amount of the other good or service that must be forgone. C. dollar value of the additional output. D. area in the arc between the PPF and a straight line drawn between the starting point and the ending point. E. None of these answers is correct.
Producer groups tend to lobby for
A) price floors. B) price ceilings. C) quantity quotas. D) taxes.
Does this production function, q = 10L0.5K0.3, experience increasing, decreasing or constant returns to scale?
A) Decreasing because a 100% increase in inputs increases outputs by 80%. B) Increasing because an 80% increase in inputs increases outputs by 100%. C) Decreasing because 0.5 + 0.3 < 1. D) A and C.