Walter builds birdhouses. He spends $5 on the materials for each birdhouse. He can build one in 30 minutes. He is semi-retired but earns $8 per hour at the local hardware store. He can sell a birdhouse for $20 each. An economist would calculate the total cost for one birdhouse to be
a. $5.
b. $8.
c. $9.
d. $13.
c
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Potential GDP is the maximum output a firm is capable of producing
Indicate whether the statement is true or false
One of the main differences between PPOs and HMOs is that:
A. HMO physicians charge on a traditional fee-for-service basis, while PPO physicians do not. B. HMOs are usually for-profit organizations, whereas PPOs are not. C. PPOs employ their own doctors, whereas HMOs do not. D. PPO physicians charge on a traditional fee-for-service basis, while HMOs do not.
What are the basic purposes of antitrust policy?
What will be an ideal response?
Speculators make their profits on
a. price differences in different time periods. b. price increases from inflation. c. avoiding double taxation of income. d. the difference in interest rates on stocks and bonds.