If Harry only pays $25,000 to purchase a new car even though he would have been willing to pay as much as $35,000 for the car, this indicates that
What will be an ideal response?
Harry reaped $10,000 of consumer surplus from the transaction.
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Excess capacity implies
A. productive inefficiency. B. productive efficiency. C. allocative efficiency. D. allocative inefficiency.
Recall the Application. The decrease in the price of wool would be reflected by a movement ________ on the market supply curve for wool
A) down and to the left B) up and to the right C) up and to the left D) down and to the right
Blenders Anytime produces kitchen products and has issued 20,000 shares of stock. Skip has 10,000 shares of Blenders’ common stock. Melda has 1,000 shares of its common stock. If Skip gets 50 votes at today’s shareholder’s meeting, how many votes does Melda get?
a. 1 b. 5 c. 10 d. 25
Which of the following will decrease the demand for fast-food burger workers' labor?
A. More people start working two jobs and eat more fast food. B. The price of pizza, a substitute for burgers, decreases. C. A new technology allows burgers to be produced faster. D. Workers get additional training that increases productivity.