When the government _____________ mortgage lending standards, the indirect result is likely to be _____________ home prices
A) lowers; higher
B) increases; lower
C) lowers; lower
D) increases; higher
E) a and b
E
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The table above shows techniques that can be used to produce 100 shirts. If the price of an hour of labor is $10 and the price of a unit of capital is $12, then the economically efficient technique is
A) W. B) X. C) Y. D) Z.
If a cartel firm is producing a quantity at which the marginal revenue is $2 and the marginal cost is $2, the firm ________.
A) is producing less than the agreed upon quantity B) has erected a barrier to entry C) is producing the agreed upon quantity D) has acted in self-interest
To produce a firm's current output level, total cost is $600, and the total variable cost is $450 . Therefore, the firm has
a. a marginal cost of $150 b. sunk costs of $150 c. a marginal cost of $1,450 d. total fixed cost of $1,450 e. total fixed cost of $150
EFI Conveyor Systems recently visited a local AC motor distributor. This transaction most likely involves:
A. vertical integration. B. contract or vertical integration. C. spot exchange. D. contract.