If the median voter voted against a project, we can infer that
A) at least half of the voters also voted against it.
B) at most a third of the voters voted against the project.
C) the project was approved.
D) at least half of the voters voted in favor of the project.
A
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Which of the following is an example of a sunk cost?
A) The cost incurred in painting a new office space B) The wage paid to workers in a mill C) The cost of raw materials used in a factory D) The cost of electricity used in the office
Many bars close to campuses have started offering cheaper beer to consumers with a student IDs. These bars are using
a. Direct price discrimination b. Indirect price discrimination c. Decreasing returns to scale d. None of the above
Most economists would place the costs of a new public transit system in the
A. smart budget. B. capital budget. C. operating budget. D. social budget.
Holding other factors constant, a higher relative price of a firm's output will:
A. increase national saving. B. increase investment. C. decrease investment. D. decrease national saving.