According to the above table, if the marginal revenue product is $48, how many workers will the profit maximizing monopsonist hire?
A) 5
B) 6
C) 7
D) 8
D
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Which of the following costs do not vary with the amount of output a firm produces?
a. average fixed costs b. fixed costs and average fixed costs c. marginal costs and average fixed costs d. fixed costs
Which of the following would be part of the nation's current account?
A. The interest an American earns on a British bond B. A factory built by the Japanese in the United States C. The purchase of a U.S. Treasury bond by a foreigner D. An old house purchased by an American in Italy
The reversal of fortune in terms of population density suggests that:
A) areas with a higher population density in 1500 are today relatively less prosperous. B) areas with a higher population density in 1900 are today relatively less prosperous. C) areas with a higher population density in 1900 are today relatively more prosperous. D) areas with a higher population density in 1500 are today relatively more prosperous.
A tax imposed on the buyers of a good will raise the
a. price paid by buyers and lower the equilibrium quantity. b. price paid by buyers and raise the equilibrium quantity. c. effective price received by sellers and lower the equilibrium quantity. d. effective price received by sellers and raise the equilibrium quantity.