Acres of LandTanks of FertilizerTruckloads of Potatoes2002820170202105203135204152205141
Refer to Table 2.4. Increasing the tanks of fertilizer from 3 to 4 will increase the truckloads of potatoes by:
A. 152.
B. 35.
C. 17.
D. 11.
Answer: C
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The above figure shows the market for labor. The employer is a monopsony. The firm will maximize its profit by hiring 400 hours of labor because at that point
A) MCL > W. B) VMP > W. C) MCL > VMP. D) MCL = VMP.
Referring to the above graphic, which of the following statements is FALSE?
A) In panel (a), a competitive situation is shown in which equilibrium is established at the intersection of D and S at point E. B) In panel (a), the equilibrium price is Pe and the equilibrium quantity Qe. C) The price the monopolist charges in panel (b) at Pm is lower than the price that the competitive producer charges. D) The monopolist produces at Qm, and charges a price ofPm, while maximizing profits at the intersection of MC and MR.
Antitrust legislation is an attempt by government to make competition
A) equal. B) efficient. C) structured. D) fair.
Which of the following is not a probable consequence of food aid to developing countries?
a. Increased domestic food prices b. Declining domestic output c. Misallocation of food supplies d. Increased dependency on foreign food supplies e. Increased starvation of the needy