For a decade after the Land Ordinance of 1785, pioneering in parts of the Northwest Territory was restricted by all of the following except
a. Indian troubles
b. French interference
c. English interference
d. high prices of land
b. French interference
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A market tends to be monopolistic if
a. The good has too many substitutes b. The good has very few substitutes c. The good has too many complements d. The good has very few complements
Which of the following is a component of the Bipartisan Campaign Reform Act?
a. Requiring the disclosure of campaign contributor names b. Making federal funds available to presidential candidates c. Limiting the number of campaign ads that can be run on television d. Removing the ban on union contributions to political parties
What is the effect of profits in a monopoly?
a. Society is faced with a deadweight loss equal to the profit. b. Consumer losses are offset by producer gains. c. Producer losses are offset by consumer gains. d. Society gains at the monopolist’s expense.
Suppose that in a computer factory, if there is 1 worker, 80 computers are produced per week. If there are 2 workers, 150 computers are produced per week. If there are 3 workers, 200 computers are produced per week. Given this information, the marginal product of the third worker is
A. 60 computers per week. B. 50 computers per week. C. 210 computers per week. D. 70 computers per week.