Productivity growth occurs when:
A) there are more inputs
B) firms can produce more output per unit of input
C) more output is produced
D) employees work extra hours
B
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Suppose a monopolist has TC = 100 + 10Q + 2Q2, and the demand curve it faces is p = 90 - 2Q. What will be the price, quantity, and profit for this firm?
What will be an ideal response?
The price of pie increases. Some people who purchased pie before the price increase no longer purchase pie. This is
A) a positive externality. B) a negative externality. C) a positive externality for some consumers and a negative externality for others. D) not an externality.
Along a downward-sloping linear demand curve,
a. slope is constant and elasticity is changing b. slope is changing and elasticity is constant c. both slope and elasticity are constant d. both slope and elasticity are changing e. no generalizations can be made about slope
The Bureau of :Labor Statistics has been compiling an experimental CPI for the elderly, called CPI-E
a. True b. False