Suppose you are the marketing manager for Fruit of the Loom. An individual's inverse demand for Fruit of the Loom women's underwear is estimated to be P = 25 ? 3Q (in cents). If the cost to Fruit of the Loom to produce an item of women's underwear is C(Q) = 1 + 4Q (in cents), compute the number of women's underwear items that should be packaged together.
A. 7
B. 1
C. 4
D. 3
Answer: A
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Using the figure above, suppose education is provided by public colleges, where tuition is set at $10,000 a year
When the market is in equilibrium, the marginal social benefit is ________, the marginal cost is ________, and the number of students enrolled is ________. A) $25,000; $25,000; efficient B) $25,000; $10,000; inefficient C) $15,000; $25,000; inefficient D) $15,000; $15,000; efficient E) $25,000; $15,000; inefficient
Labor productivity is measured by
A. the ratio of capital to labor. B. real output per worker hour. C. real output per capita. D. the ratio of worker hours to real GDP.
In the specificfactors model, how will immigration affect the sending country's production possibilities frontier?
a. It will shift it to the right. b. It will shift it to the left. c. It will not affect its production possibilities curve. d. Immigration will first shift it to the left, then shift it back to its original position.
A promoter might charge less than the profit maximizing ticket price because
A. she knows that the facility has absolutely no alternative use on the day of the event. B. the talent that she represents may wish to play to a full arena for their own ego. C. like most promoters, she has deeply-felt charitable instincts. D. all of the options are correct.