Bill owns a lawn-care company in Windermere, Florida, whose cost curves are illustrated in the above figure. The market equilibrium price in this perfectly competitive market equals $32 per lawn mowed
At this price, how many lawns will Bill mow per week? A) more than 10 and less than 30
B) 30
C) 40
D) 50
E) 0
C
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What is the main argument which explains why the data do not show a positive relation between the deficit producing tax cuts in the early eighties savings rates?
A) People will increase savings to "finance" debt repayment by future generations. B) People will increase consumption to "finance" debt repayment by future generations. C) Savings is determined by uncertain events, the timing of future illnesses and death. D) Savings is determined by certain events, the timing of future illnesses.
The consensus is that approximately ________ percent of U.S. households are subject to a liquidity constraint in consumption
A) 75 B) 55 C) 35 D) 15 E) 5
If a firm has established monitoring devices that have a 50% chance of detecting shirking, and an employee gains $5,000 from shirking, the employer can deter shirking by having employees post a bond equal to
A) $2,500. B) $5,000. C) $10,000. D) $50,000.
There are only increases in total surplus when a country exports a good, since more units of the country's output of that good are produced
a. True b. False Indicate whether the statement is true or false