Powers of many regulatory agencies are designed to protect public health and safety
a. True
b. False
Indicate whether the statement is true or false
True
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Joey notices that by employing an additional hairdresser, he will be able to increase the number of haircuts in his salon by 15 haircuts per day. The daily salary he will need to pay the hairdresser is $200
How much is the cost for an additional haircut? Describe the general relationship between the marginal product and marginal cost curves.
The perfectly competitive, profit-maximizing rate of production
A) occurs at the point at which marginal revenue is equal to marginal cost. B) occurs at the point at which the difference between marginal revenue and marginal cost is maximized. C) is not measurable for a perfectly competitive firm. D) ignores the relation of total revenues and total costs.
Government programs such as Medicare substantially subsidize health care purchases by some consumers in the U.S. economy. Who benefits from these subsidies? How do they affect the price of health care? If you are not a recipient of this program, are you made better or worse off by the subsidy? Explain
If supply is upward-sloping and demand is downward sloping, what happens to the equilibrium real risk-free interest rate and quantity of real loanable funds per time period if there is a decrease of the real money supply and an increase in the government's budget deficit?
a. The real risk-free interest rate rises and the quantity per time period falls. b. The real risk-free interest rate rises and the quantity per time period rises. c. The real risk-free interest rate does not change and the quantity per time period rises. d. The real risk-free interest rate is uncertain and the quantity per time period rises. e. The real risk-free interest rate is rises and the quantity per time period is uncertain.