The ________ capital in developing nations causes labor productivity to remain low.
A. subsidized
B. increase in privately controlled
C. reassignment of
D. lack of
Answer: D
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The relationship that tells us how much a person intends to spend at various levels of income is
A) the expenditure function. B) the consumption function. C) the buying function. D) the spending function.
The figure above shows the costs and demand curves for the Bigshow Cable Company. If the regulator of Bigshow Cable Company set its price at $4, the company would
A) receive a producer surplus equal to $18 million. B) make zero economic profit. C) incur an economic loss of $7 million. D) none of the above.
Maxine's Cookie Shop sells chocolate chip cookies in a perfectly competitive market for $2 per dozen. Maxine currently produces 200 dozen cookies per day and average total cost at this level of production is $1.75
What level of profit is this firm earning? Explain.
Refer to the accompanying figure. If Laura and Chris are the only two consumers in this market, then the market demand for hamburger will be 9 pounds per week when the price of hamburger is:
A. $1.00 per pound. B. $2.50 per pound. C. $1.50 per pound. D. $2.00 per pound.