If a U.S. shirt maker purchases cotton from Egypt, U.S. net exports
a. increase, and U.S. net capital outflow increases.
b. increase, and U.S. net capital outflow decreases.
c. decrease, and U.S. net capital outflow increases.
d. decrease, and U.S. net capital outflow decreases.
d
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Refer to Table 17-5. Oil Can Harry's, a new automobile service shop, is ready to start hiring. The table above shows the relationship between the number of mechanics the firm hires and the quantity of oil changes it produces
a. Suppose the price of an oil change is $20. Complete the table by filling in the values for marginal product and marginal revenue product. b. Oil Can Harry's is an input price-taker. Suppose the wage paid to mechanics is $80 per day. What is the profit-maximizing number of mechanics? c. Suppose the wage rate rises to $100 per day. (i) What happens to the firm's demand curve for mechanics? (ii) What happens to the profit-maximizing quantity of mechanics? d. Suppose the wage rate is $60 per day and the price of an oil change is now $15. (i) What happens to the firm's demand curve for mechanics? (ii) What happens to the profit-maximizing quantity of mechanics?
If a firm reacts to other firms' market decisions by anticipating how the other will then react, this is:
a. not profit-maximizing behavior b. a monopolistic competitive market c. a market with a low concentration ratio d. mutual interdependence e. collusion by definition
Given the following budget line, (M = PfF + PsS) show the following by reformulating the equation. Assume F (food) is on the horizontal axis and S (shelter) is on the vertical axis.A. The vertical intercept is ________.B. The horizontal intercept is ________.C. The slope of the budget line is ________.
What will be an ideal response?
Homeowners with good credit history will usually be
A. wise enough never to borrow any of their home equity for any purpose. B. wise enough to borrow part of their home equity only for sensible goals, like a big new SUV. C. unaware that borrowing part of the equity in their home will increase their monthly payments. D. able to borrow part of the equity in their home to achieve reasonable financial goals.