Suppose you find that by studying one extra hour for your exam, you can increase your score by 4 points. How many hours of studying do you need it you want to increase your score from 60 to 80 points (assuming that the relationship is linear)?
A. 5 hours
B. 6 hours
C. 20 hours
D. 80 hours
Answer: A
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Refer to Figure 14-2. If the government delays Gigacom's entry and Xenophone moves first, what is the likely outcome in the market?
A) Xenophone offers internet service via cable line and earns a profit of $4 million while Gigacom offers DSL internet service and earns a profit of $4.5 million. B) Both offer internet service via cable line; Xenophone earns a profit of $6 million and Gigacom earns a profit of $9 million. C) Both offer DSL internet service; Xenophone earns a profit of $8 million and Gigacom earns a profit of $7 million. D) Xenophone offers DSL internet service and earns a profit of $5 million while Gigacom offer internet service via cable line and earns a profit of $6.5 million.
The egalitarian view of equity would lead to:
A) equal allocations of goods across all persons. B) maximizing the utility of the least-well-off person. C) maximizing the total utility of all society members. D) none of the above
All monopolies exist because of:
a. firms' desire to maximize profits. b. failure of antitrust laws. c. barriers to entry. d. natural selection.
Increasing opportunity while moving along a production possibility frontier is due to
What will be an ideal response?