If Thelma's willingness to sell her homemade fudge is $4, then at which of the following prices would Thelma sell her fudge?
A. $4.01
B. $3.99
C. $2
D. Thelma would not sell her fudge at any of these prices.
Answer: A
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The figure above shows the U.S. production function. How would an increase in income taxes be shown in the figure?
A) a movement from point C to point B B) a movement from point A to point B C) an upward shift or rotation of the production function D) a downward shift or rotation of the production function E) None of the above because the effects of an increase in taxes cannot be shown in the figure.
"If firms in duopoly collude and operate as a monopoly, the industry produces more output compared to the Nash equilibrium." True or false? Explain
What will be an ideal response?
Which of the following corresponds to the definition of the supply curve?
a. It depicts a positive relationship between income and quantity supplied. b. It depicts a positive relationship between technology and prices. c. It depicts a positive relationship between prices and quantity supplied. d. It depicts a negative relationship between prices and quantity supplied. e. It depicts a proportional relationship between prices and quantity supplied.
At the time the _________ was passed, the ratio of total earnings for African American men was 62% of their white counterparts. Today the gap is smaller, although it still has not closed.
a. Fair Labor Standards Act of 1938 b. Civil Rights Act of 1964 c. Taft-Hartley Act of 1947 d. National Labor-Management Relations Act of 1935