An office supply store sells a ream of printer paper at a fixed price of $4.50. Which of the following is a term used by economists to describe the money received from the sale of an additional ream of paper?
A) pure profit
B) gross earnings
C) marginal costs
D) marginal revenue
E) net benefit
D
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________ unemployment occurs naturally in the labor market as workers search for jobs
A) Cyclical B) Frictional C) Structural D) Inflationary
Which of the following assumptions were made by the Cournot model of oligopoly?
a. Each seller psychoanalyzes the competition and decides how to react in all possible situations. b. Each seller psychoanalyzes the competition and exactly predicts the output decisions of the competitors. c. Each seller chooses its own output and believes the others in the market will respond to its choices. d. Each seller chooses its own output and believes the others in the market will not respond to its choices.
If a teacher was curious to see if collaboration among students leads to higher grades, which of the following models would be the best to use?
A. Traditional models B. Regression models C. Butterfly effect model D. Heuristic models
Explain whether it is possible for a country to have a comparative advantage in the production of a product without having an absolute advantage in the production of that product
What will be an ideal response?