Which of the following would be the best example of consumer surplus?
a. Shaniqua does not get cell-phone service because she feels that it is worth less than the $30 a month fee.
b. Nicolas pays $8 for a haircut that is worth $10 to him.
c. Diego buys a house for $104,000 . the maximum amount that he would be willing to pay for it.
d. Isabella purchases a book for $20 and uses a credit card to pay for it.
B
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An engineer has informed the city manager that the marginal cost of an additional car crossing the city bridge is zero? If you were required to draw this cost function on a graph what would it look like? What is the slope of this graph?
What will be an ideal response?
According to Keynesians, if the money supply is fixed and households expand their purchases of consumer goods, the velocity of money
a. remains unchanged but the price level falls b. falls c. rises d. falls and the price level rises e. remains unchanged but the price level rises
Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars SoldTrucks SoldLarry105Joe99Ralph312 Based on last month's data, ________ has an absolute advantage in selling cars and ________ has an absolute advantage in selling trucks.
A. Joe; Joe B. Larry; Joe C. Larry; Ralph D. Ralph; Larry
The Sunshine Corporation finds its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question.OutputTVC1$302503654855110Refer to the above information. The total cost of producing 3 units of output is:
A. $185. B. $105. C. $65. D. $145.