Which of the following is an investment decision in a competitive market?
A. Entry or exit.
B. The rate of output to produce.
C. The price to charge.
D. The shutdown decision.
Answer: A
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The majority of the income earned in the United States is paid in
A) wages. B) rent. C) profit. D) dividends. E) interest.
Exhibit 30-3 Costs of Eliminating:Firm A Firm B Firm C 1st ton of pollution$ 30 $ 50 $ 600 2nd ton of pollution$ 70 $ 90 $ 700 3rd ton of pollution$125 $150 $ 900 4th ton of pollution$200 $250 $1,300 Refer to Exhibit 30-3. Suppose that Firms A, B, and C are the only polluters in the state and that each emits 4 tons of pollution into the atmosphere. To cut the level of pollution in half the government issues two transferable pollution permits to each firm. What is the total cost to society of decreasing pollution to half its present level if firm C buys one pollution permit from firm A and one pollution permit from firm B?
A. $515 B. $1,300 C. $1,380 D. $965 E. $10,350
If Claire's reservation price on a sweater is $37, which of the following prices would she have to observe in the market in order to buy a sweater?
A. $37.01 B. $38.00 C. $37.00 D. Claire would not buy a sweater at any of these prices.
The short-run aggregate supply curve would shift and the long-run aggregate supply curve would remain fixed if
A. bad weather that affects transportation for two days. B. tough new environmental laws were passed. C. there was an increase in immigration. D. the retirement age increased by two years.