On the graph above, for a while after t = 0, the growth rate of output per worker is ________ the growth rate prior to time zero, and ________
A) below; rising
B) below; falling
C) above; constant
D) above; falling
A
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“Peak pricing” involves setting lower prices at peak times so that people can afford a good or service.
Answer the following statement true (T) or false (F)
Because there are positive externalities from higher education,
a. private markets will under-supply college classes. b. private markets will over-supply college classes. c. the government should impose a tax on college students. d. government intervention cannot improve the market for college classes.
A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results:Qd = 25,000 ? 5,000P + 25MQs = 240,000 + 5,000P ? 2,000PIwhere P is price, M is income, and PI is the price of a key input. The forecasts for the next year are 
= $15,000 and 
I = $20. Average variable cost is estimated to beAVC = 14 ? 0.008Q + 0.000002Q2Total fixed cost will be $6,000 next year. Suppose income next year is forecasted to be $10,000 instead. What is the profit-maximizing output choice for the firm?
A. zero B. 5,548 C. 3,480 D. 2,167 E. 8,000
The price elasticity of demand for eggs is -0.27. Therefore, an increase in the price of eggs will cause:
A. a decrease in egg suppliers' total revenue. B. an increase in the quantity demand of eggs. C. an increase in egg suppliers' total revenue. D. an increase in the demand for eggs.