NeoPro Gasket Fabricators is trying to decide whether to buy another punch press to increase its production of gaskets. How should the firm make this decision?
a. by researching what other companies are doing with this equipment
b. by considering whether it is more cost effective to buy it or to lease it
c. by seeing the equipment demonstrated at a regional trade show
d. by calculating if the machine will bring in more money than it will cost to operate
d. by calculating if the machine will bring in more money than it will cost to operat
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Your local grocery store offers a coupon that reduces the price of milk during the coming week. The regular retail price of milk in the store is $3.00 per gallon, and the coupon price is $2.00 per gallon for the next week
If the store maximizes profits and the price elasticity of demand for milk is -2 for coupon users, what is the price elasticity of demand for non-users? A) -0.67 B) -1.0 C) -1.5 D) We do not have enough information to answer the question.
The Beard-Hacker Thesis claims that post-bellum economic growth in the United States:
a. was slowed by rapid immigration. b. was accelerated by rapid immigration from English speaking countries. c. was slowed by the formation of industrial monopolies. d. was accelerated by economic and financial changes generated by the Civil War.
If the production of a good generates a detrimental externality, then at that level of production of the good under perfect competition,
a. MSC > P. b. MPC > MSC. c. P > MU. d. MPC > P.
If the price in a market is above its equilibrium level, there will be a:
A. shortage and upward pressure on price. B. surplus and downward pressure on price. C. surplus and upward pressure on price. D. shortage and downward pressure on price.