In the years immediately following the Civil War (1861–1865), a "unique" pattern of social and economic life formed in the South. It included:
(a) High productivity
(b) An increase in wealth among all groups
(c) Social advancement among former slaves and whites
(d) Racism
(d)
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A firm pays Pam $40 per hour to assemble personal computers. Each day, Pam can assemble 4 computers if she works 1 hour, 7 computers if she works 2 hours, 9 computers if she works 3 hours, and 10 computers if she works 4 hours. Pam cannot work more than 4 hours day. Each computer consists of a motherboard, a hard drive, a case, a monitor, a keyboard, and a mouse. The total cost of these parts is $600 per computer. If the firm sells each computer for $625, then how many hours a day should the firm employ Pam to maximize its net benefit from her employment?
A. 1 hour B. 3 hours C. 2 hours D. 4 hours
What is "rent seeking"? How does it apply to restricting imports?
What will be an ideal response?
In the long run, a monopolistically competitive firm's demand curve must be tangent to its average cost curve
a. True b. False Indicate whether the statement is true or false
The alternative to voluntary exchange is:
A. self-sufficiency. B. dependency. C. cooperation. D. marginal analysis.