Widespread assumptions about the first transatlantic railroad did NOT include:
a. that government support was as essential.
b. that profits to the nation would be enormous.
c. that private investors would be easily compensated for any risk.
d. that transatlantic crossing via rail would take a fraction of the time of a clipper ship passage.
c. that private investors would be easily compensated for any risk.
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According to the graph shown, the long-run output decision for this firm is:
This graph represents the cost and revenue curves of a firm in a perfectly competitive market.
A. Q1, P1.
B. Q1, P2.
C. Q2, P1.
D. Q3, P3.
Andy views beer and pizza as complements to one another. If the price of pizza decreases, economists would expect: a. Andy's demand for pizza to increase
b. Andy's demand for pizza to decrease. c. Andy's quantity of pizza demanded to decrease. d. Andy's demand for beer to increase.
The following table shows the total utility and marginal utility derived from the consumption of scones. The first column of the table represents the number of scones a consumer consumes in a day. The second column of the table presents the total utility derived from that consumption, and the third column shows the marginal utility of each additional scones. The marginal utility of the second scone is _____ units. Table 6.3 Scones Total utility Marginal utility 1 10 - 2 18 - 3. 24 6 4 28 - 5 30 2
a. ?9 b. ?8 c. ?6 d. ?19 e. ?12
The number of people receiving Medicare is expected to grow to 74 million by the year
A) 2105. B) 2020. C) 2025. D) 2075.