Susan wishes to buy gasoline and have her car washed. She finds that if she buys 9 gallons of gasoline at $1.50 per gallon, the car wash costs $1, but if she buys 10 gallons of gasoline, the car wash is free. For Susan, the marginal cost of the tenth gallon of gasoline is:
a. zero. b. 50 cents.
c. $1 d. $1.50.
b
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According to this Application, the main concern of Greek residents was that
A) the Prime Minister of Greece would be impeached. B) hyperinflation could occur in the economy. C) the country wold switch to a gold standard. D) banks would convert their accounts to drachmas and they would suffer financial losses.
An increase in production costs will shift the:
A) aggregate demand curve. B) short-run aggregate supply curve. C) long-run aggregate supply curve. D) none of the above.
Corporate culture can be a strategic asset if it
A) adds value. B) adds value and can be duplicated. C) adds value and cannot be duplicated. D) can be franchised.
VRIN or VRIO is an example of a
A) five forces model B) resource-base model C) supply and demand model D) dark-side model