A firm's primary interest when it hires an additional worker is
A) whether or not the new worker gets along with the firm's existing workers.
B) the cost of hiring the additional worker.
C) how the average output of the firm will be affected by this new worker.
D) the extra revenue the firm realizes from hiring that worker.
D
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The impact of an increase in the price of a particular good is illustrated as a
A) leftward shift in its demand curve. B) rightward shift in its demand curve. C) movement upward and to the left along its demand curve. D) movement downward and to the right along its demand curve. E) rightward shift in its demand curve and a movement upward and to the left along its demand curve.
A good may be inferior at some income levels and normal at others
What will be an ideal response?
If the inverse demand curve a monopoly faces is p = 100 - 2Q, and MC is constant at 16, then maximum profit
A) equals $336. B) equals $882. C) equals $1,218. D) cannot be determined solely from the information provided.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.