Which of the following is a goal of a welfare system?

A. To make recipients happy
B. To reduce the number of children born
C. To provide an adequate standard of living
D. None of the above


Answer: C

Economics

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If the demand curve facing the monopolist is P = 70 - 14Q, then the slope of its marginal revenue curve is:

A. -14. B. -28. C. -7. D. - 35.

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For a perfectly competitive firm, marginal revenue product is equal to price minus marginal revenue

a. True b. False Indicate whether the statement is true or false

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Refer to the above figure. The wage rate under perfect competition is

A. W2. B. W3. C. W4. D. W5.

Economics

Refer to the above table. How many more workers will the firm hire when the wage rate is $15 instead of $30?

 

A.  1 worker

B.  2 workers

C.  3 workers

D.  4 workers

Economics