If two products satisfy a consumer equally, the consumer will choose the product
a. with the lower marginal utility
b. with the higher marginal utility
c. with the lower price
d. with the higher price
c. with the lower price
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In 2010, gross private domestic investment constituted ________ percent of nominal GDP
A) 70.4 B) 12.4 C) 18 D) -5.4
The manager of Greene Enterprises, Inc., recently estimated its average variable cost (AVC) function to beAVC = 88 - 0.026Q + 0.000003Q2Greene Enterprises faces total fixed costs (TFC) of $300,000. When Greene's output is 2,000 units, what is short-run marginal cost (SMC)?
A. $20 B. $90 C. $42 D. $100 E. $72
After the imposition of the quota, the numbers of TVs imported will drop by ________ units.
A. 20,000 B. 40,000 C. 100,000 D. 80,000
Suppose you are making $100,000 per year and paying $10,000 per year in income taxes. You get a $10,000 per year raise and your income taxes are now $11,000 per year. Based on this information, the income tax system is
A. progressive. B. bracketed. C. proportional. D. regressive.