A retailer buys goods worth $15,000 from a manufacturer and sells it for $18,250. He adds a value of ________ to the production process
A) $15,000 B) $3,250 C) $33,250 D) $18,250
B
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Refer to Figure 7-2. With the tariff in place, the United States produces
A) 18 million pounds of coffee. B) 20 million pounds of coffee. C) 26 million pounds of coffee. D) 38 million pounds of coffee.
Economic regulation is government policy designed to
a. improve health and safety in products and in working conditions b. prevent firms from monopolizing or developing a cartel in existing competitive markets c. eliminate existing monopolies by breaking them apart into many smaller firms d. create monopolies by forcing competitive firms to merge e. control price and output in industries where monopoly is desirable
If the average utility of good A is 15 and the average utility of good B is 25, you should:
A. keep consuming the current amounts of both good A and good B. B. realize that you don't have enough information to answer the question. C. consume more of good A and less of good B. D. consume more of good B and less of good A.
Net wealth is _____
Fill in the blank(s) with the appropriate word(s).