Refer to the table below. What long-run capacity of resort units should Gorgeous Sands Resort select?
The table above summarizes Gorgeous Sands Resort's marginal capacity cost, marginal operating cost, peak marginal revenue, off-peak marginal revenue, and its peak and off-peak demand for its resort units.
A) 250
B) 300
C) 350
D) 200
B) 300
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Railroads, automobiles, television, computers, and genetic engineering are all examples of new industries that are believed by many economists to have triggered
a. innovation cycles b. all internal cycles c. all external cycles d. short-run cycles e. multiple-investment cycles
The Social Security tax, and to a large extent, the federal income tax, are labor taxes
a. True b. False Indicate whether the statement is true or false
A simultaneous rise in aggregate demand and fall in short-run aggregate supply will definitely
A) raise the price level, but there is not enough information to know how Real GDP will change. B) lower Real GDP, but there is not enough information to know how the price level will change. C) raise the price level and Real GDP. D) raise Real GDP, but there is not enough information to know how the price level will change. E) raise the price level and lower Real GDP.
Real wages more accurately reflect the payment to labor because they are adjusted for the effects of inflation.
Answer the following statement true (T) or false (F)