If the price for a box of kiwis is $40, the wage rate for kiwi laborers is $10 per hour, and a laborer can pick 3 boxes of kiwis per hour, the
A. MRP is $30 per hour.
B. Cost efficiency is 3/10 of a box per dollar.
C. MPP is $30 per hour.
D. Wage rate will tend to fall.
Answer: B
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With a given income and prices of goods, Marcus will be in a consumer equilibrium if ________
A) his marginal utility from all goods is the same B) he purchases the same amounts of all goods C) he maximizes his total utility D) his marginal utility from all goods is at its maximum
A $1,000 price tag on a stereo system is an example of money as a unit of account
a. True b. False Indicate whether the statement is true or false
What are the properties of indifference curves?
If buyers today become more willing and able than before to purchase larger quantities of stand up paddle boards (SUPs) at each price of SUPs, then
a. we will observe a movement downward and to the right along the demand curve for SUPs. b. we will observe a movement upward and to the left along the demand curve for SUPs. c. the demand curve for SUPs will shift to the right. d. the demand curve for SUPs will shift to the left.