Based on the above figure, up to which level of output will Ike's Ice Cream Kitchen have increasing marginal returns?
A) only at 0 gallons
B) up to 10 gallons
C) up to 40 gallons
D) up to 60 gallons
B
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The figure above shows the U.S. demand and the U.S. supply curves of canned peaches
a. In the absence of trade, what is price of canned peaches in the United States? b. In the absence of trade, what is the level of production in the United States? c. If the world price of canned peaches is $1 a can and the United States engages in trade, does the United States import or export canned peaches? d. If the world price of canned peaches is $1 a can and the United States engages in trade, what is the quantity produced in the United States and what is the quantity consumed? What is the quantity imported or exported? e. If the world price of canned peaches is $2 a can and the United States engages in trade, does the United States import or export canned peaches? f. If the world price of canned peaches is $2 a can and the United States engages in trade, what is the quantity produced in the United States and what is the quantity consumed? What is the quantity imported or exported?
The interest rate is the ________ cost, hence the ________ cost, of investing in capital
a. actual cost; opportunity cost b. opportunity cost; actual cost c. opportunity cost; marginal cost d. marginal cost; total cost
The rate of change in total utility equals
A. marginal utility. B. the rate of change in marginal utility divided by the price. C. the change in marginal utility divided by the change in quantity. D. the change in marginal utility associated with eating all the quantities a person can handle.
In the United States in 2016, the percentage of people who received health insurance through a government program was about
A) 10%. B) 16%. C) 36%. D) 64%.