The marginal benefit of an activity is i. the benefit from a one-unit increase in the activity. ii. the benefit of a small, unimportant activity. iii. measured by what the person is willing to give up to get one additional unit of the activity
A) i only
B) ii only
C) iii only
D) i and iii
E) ii and iii
D
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If the depreciation rate in an economy is 10%, and the capital stock in the economy is $1,000, the level of investment required to keep the economy at a steady state is equal to:
A) $110. B) $1,000. C) $250. D) $100.
The price elasticity of supply of laptop computers equals 1.5 if
A) a rightward shift of the demand curve for laptops causes the quantity supplied to increase by 1.5 percent. B) a rightward shift of the demand curve for laptops causes a 1.5 percent increase in their price. C) for every 1 percent that laptop prices increase, computer makers produce another 1.5 percent laptops. D) for every $1.00 that laptops increase in price, computer makers produce another 150 laptops.
What is the largest market share held by an individual firm in the Sanitary Paper Product Manufacturing industry?
a. 25 percent
b. 27.2 percent
c. 35.5 percent
d. 92.7 percent
The net economic gains from free trade are usually negative.
Answer the following statement true (T) or false (F)