The break-even quantity is
a. Fixed Costs/Price
b. Fixed Costs/Marginal Cost
c. Fixed Costs/(Price – Marginal Costs)
d. Contribution Margin/Fixed Costs
c
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If the price of TVs produced by XYZ-TV Company falls from $1,000 to $750 per TV set, then the:
A. supply of labor to the XYZ-TV Company increases. B. demand for labor by the XYZ-TV Company increases. C. supply of labor to the XYZ-TV Company decreases. D. demand for labor by the XYZ-TV Company decreases.
Refer to Figure 7-1. The market equilibrium price is
A) $30. B) $25. C) $20. D) <$20.
Which of the following countries does not come close to the free market benchmark?
A) Cuba B) Japan C) the United States D) France
The marginal rate of substitution
A) is minus the slope of the indifference curve. B) can be computed by measuring the curvature of the indifference curve. C) cannot be deduced from the properties of the indifference curve. D) can only be computed if we know the prices of all goods.