A Pareto improvement is any action that makes everyone better off
a. True
b. False
B
You might also like to view...
If the economy were producing at point E and moved to point B the opportunity cost in terms of lost production of outboard motors would be
A. 16 units of outboard motors.
B. 14 units of outboard motors.
C. 12 units of outboard motors.
D. 10 units of outboard motors.
A bank in Checkland lends a sum of $100 billion to a business firm in Zoroland. Checkland makes a donation of $5 million to a charity in Zoroland. A retail giant in Zoroland opens a new facility in Checkland that is worth $100 billion
Total foreign direct investments in Checkland equal: A) $100 billion. B) $205 billion. C) $200 billion. D) $105 billion.
Dan is the owner of a price-taking company that manufactures sporting goods. One particular facility Dan owns produces baseball bats and baseball gloves. His cost function for baseball bats is CB(QB, QG) = 100QB + QB2 + QBQG and the marginal cost is MCB = 100 + 2QB + QG, where QB is the output level for bats and QG is the output level for gloves. Dan's cost function for baseball gloves is CG(QB, QG) = 50QG + QG2 + QGQB, and the marginal cost is MCG = 50 + 2QG + QB. The price of a baseball bat is $240 and the price of a baseball glove is $150. If he only produced gloves, what would Dan's profit be if he produces the profit-maximizing quantity?
A. $2,000 B. $2,200 C. $2,500 D. $3,100
If an employer has to raise the wage rate of workers in order to employ more labor, then the marginal labor cost curve of the employer:
A. Lies above the supply curve of labor B. Is the supply curve of labor that it faces C. Lies below the supply curve of labor D. Is a downward-sloping curve