Which of the following best describes the marginal revenue from an additional salesperson at a car dealership?
A. The additional profits the firm earns because of that employee
B. The number of additional cars the firm sells because of that employee
C. The increase in wages, benefits, and other costs because of that employee
D. The increase in revenue to the dealership because of that employee
Answer: D
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Explain the significance of voting with suitable examples
Suppose that an American opens and operates a candy factory in Finland. This is an example of
a. foreign direct investment. American saving is used to finance Finish investment. b. foreign direct investment. American saving is used to finance American investment. c. foreign portfolio investment. American saving is used to finance Finish investment. d. foreign portfolio investment. American saving is used to finance American investment.
What are the competitive equilibrium wage and employment level in Figure 31.1?
A. $11; 32 workers. B. $8; 10 workers. C. $4; 13 workers. D. $5; 16 workers.
The use of seat belts and other automobile safety features making bicycling more hazardous can be explained by the economic concept known as:
A. the real-nominal principle. B. the marginal principle. C. the principle of voluntary exchange. D. the principle of diminishing returns.