Many less developed countries have low rates of economic growth because
a. high population growth rates reduce living standards
b. low population growth rates result in an inadequate labor supply
c. high current output per capita reduces incentives for growth
d. interest rates are too high
e. they invest too much in infrastructure leaving little for private capital investment
A
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The Karaoke Channel Online streams professional-grade karaoke for $9.95 a month. Suppose Karaoke Channel Online has a constant marginal cost of $1 per customer and total fixed cost is $20,000. The profit maximizing number of customers is 10,000
Several competitors start to advertise online. Karaoke Channel Online now spends $5,000 a month on advertising and the profit maximizing number of customers increases to 12,000. What is Karaoke Channel Online's average total cost before the advertising begins? A) $3 B) $2 C) $1 D) $2.66
Under a cost plus fixed fee contract the contractor cannot make a loss
a. True b. False
Pizza joints often offer substantially lower prices for pizza picked up at the shop compared to delivered pizza prices. This may be an attempt at
A) perfect price discrimination. B) group price discrimination. C) quantity discrimination. D) second-degree price discrimination.
Which statement is true?
A. Comparative advantage and absolute advantage are identical terms. B. A country can have a comparative advantage without having an absolute advantage. C. The U.S. has a comparative advantage and an absolute advantage with nearly all of its trading partners. D. Trade cannot take place unless each trading partner has an absolute advantage in the production of the good or service that it is trading.