Marginal land can be defined as land that earns neither profits nor losses
a. True
b. False
Indicate whether the statement is true or false
True
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One reason education expenditures are increasing is that a larger percentage of resources are now being used on _____ expenditures
a. teacher aide b. non-classroom c. teacher salary d. textbook
If a profit-maximizing monopolist faces a downward-sloping market demand curve, its
a. average revenue is less than the price of the product. b. average revenue is less than marginal revenue. c. marginal revenue is less than the price of the product. d. marginal revenue is greater than the price of the product.
A tax levied on the purchase of a specific good or service is
A. a purchase tax. B. a value tax. C. an excise tax. D. a consumption tax.
Which of the following physical relationships might generate economies of scale?
A. Each lift truck requires one lift truck driver. B. Proportionally larger pipes can transport more than a proportional increase in oil. C. Larger equipment tends to weigh more and use more fuel on a per-unit-of-output basis. D. A doubling of all inputs leads to a doubling of output.