According to physicians, people should drink eight full glasses of water per day to maintain optimal health; it is now common knowledge. But people don't necessarily follow doctor's orders because
A) only they know what they need.
B) people value other goods in addition to optimal health.
C) we only really need a few ounces of water each day.
D) nobody considers optimal health to be desirable.
B
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In each of the following situations, list what will happen to the equilibrium price and the equilibrium quantity for a particular product, which is a normal good
a. The price of inputs decrease b. The price of a complement increases c. The number of producers in the market increases d. Income increases e. The price of a substitute in production increases
In the above figure, if the economy is at point a, an increase in ________ will move the economy to ________
A) real wealth from the fall in the price level; point b B) real wealth from the fall in the price level; point c C) expected future income; point c D) expected future income; point d
Refer to the table below. What is Crunchy Fruits total marginal cost to produce 10,500 units
Crunchy Fruits makes dried fruit snacks. Crunchy Fruits has a multi-plant firm with two production facilities. The table above summarizes the marginal cost of production at the individual plants and the corresponding quantity produced at the individual plants.
A) $.075
B) $2.25
C) $1.75
D) $1.0
As large-scale production became more profitable during the Industrial Revolution, the easiest way to finance the required factories and heavy machinery was
a. sole proprietorships b. limited liability partnerships c. letting government take over d. the corporate structure e. family businesses