In the research that used the audit method to send out 5,000 realistic-looking resumes for advertised jobs in Boston and Chicago, which of the following was one of the results?
A) White names received roughly the same number of interview requests as black names.
B) High-quality resumes with black names received no more interview requests than low-quality resumes with black names.
C) High-quality resumes with white names received roughly the same number of interview requests as low-quality resumes with white names.
D) All of the above reflect the results of the research.
B
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If the marginal cost of producing the next unit of output is less than the average total cost, then:
A. the average total cost curve is increasing. B. the marginal cost curve is at its minimum. C. the average total cost curve is decreasing. D. the average total cost curve is at its minimum.
When the price of a complement (cream) decreases, the demand for the related good (coffee)
A) will fall. B) remains constant. C) will shift outward. D) will shift inward.
Which of the following would most likely be a natural monopoly?
a. Gas utility company b. Agricultural firm c. Youth apparel company d. Automotive manufacturer
Diminishing marginal utility suggests that
a. more is always preferred to less. b. the well-being of society is maximized when the distribution of income is equal. c. the poor are less efficient at spending money than the rich. d. the poor receive more satisfaction from the last dollar spent than the rich.