The figure above shows the relationship between distance sprinted and recovery time. The curve becomes steeper because as the distance sprinted increases,
A) the extra recovery time needed from sprinting another 100 yards increases.
B) the extra recovery time needed from sprinting another 100 yards decreases.
C) the recovery time increases.
D) the recovery time decreases.
E) the relationship between distance sprinted and recovery time becomes more inverse.
A
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A monopolist who has a horizontal ATC schedule and charges the same monopoly price to all buyers
A. does not lower the amount of consumer surplus that buyers have compared with what they would have if instead they faced a perfectly competitive firm. B. appropriates more consumer surplus as profit than a perfect price discriminator does. C. appropriates less consumer surplus as profit than a perfect price discriminator does. D. appropriates less consumer surplus as profit than a perfectly competitive firm does.
A fair bet is a game whose expected value is positive.
Answer the following statement true (T) or false (F)
The number of part-time workers for economic reasons ________ during recessions and the number of part-time workers for noneconomic reasons ________ during recessions
A) increases; increases B) increases; decreases C) increases; does not change D) does not change; does not change E) decreases; increases
Let's assume Ben can produce 3 units of a material good (M) or 3 units of a spiritual good (S) in a day, while Cal can produce 1 M or 2 Ss in a day. Which statement below is true?
A) Ben can produce spiritual goods more efficiently than Cal. B) Cal can produce material goods more efficiently than Ben. C) Ben can produce material goods more efficiently than Cal. D) Ben can produce both material and spiritual goods more efficiently than Cal.