The academic ability of women studying to be teachers has declined in recent years because
A. the rate of pay for female teachers is much less than for equally-qualified male teachers.
B. of the increased outsourcing of teaching jobs.
C. bright women have other, more economically-lucrative opportunities.
D. the nominal rate of pay for all teachers has decreased.
Answer: C
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Consider the above figure. This curve suggests that as the government raises the tax rate, a point will eventually be reached at which the revenues that are collected will
A) increase. B) decline. C) approach infinity. D) become negative.
The ___________________is the amount that producers bring to market at any given price.
Fill in the blank(s) with the appropriate word(s).
Which of the following formulas accurately reflects this graph?
a. P* ($8) ? ATC ($7) ? q* (100) = $100
b. P* ($8) + ATC ($7) ? q* (100) = $1,500
c. P* ($8) ? ATC ($7) ÷ q* (100) = $.01
d. P* ($8) + ATC ($7) ÷ q* (100) = $.15
Monopolistic competition and perfect competition differ because
A) only monopolistically competitive firms will set MR = MC. B) only perfectly competitive firms will set MR = MC. C) only monopolistic competition allows for entry of other firms in the long run. D) only competitive firms take the price as given.