Refer to the below table for a profit-maximizing firm. The price of the firm's product is $10 per unit and the wage rate is a constant $110 a day. How many workers will the firm hire, assuming purely competitive product and resource markets?
A. 4
B. 5
C. 6
D. 7
C. 6
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When isoquants get progressively further apart there is
a. increasing returns to scale b. decreasing returns to scale c. constant returns to scale
Asarta Inc. is polluting into the nearby aquifer and the citizens of Buttersville demand that this be cleaned up. If the benefit to cleaning up the aquifer is estimated to be about $133,000 and the cost is estimated at $130,000 will the aquifer get cleaned?
A. Yes, because the benefit is high. B. No, because the costs outweigh the benefits. C. Yes, because the benefits outweigh the costs. D. Uncertain, with the information given.
Table 5.2National Income Accounts (dollar figures are in billions)Expenditures for consumer goods and services$2,850Exports$300Government purchases of goods and services$810Social Security taxes$295Net investment$510Indirect business taxes$445Imports$450Gross investment$700Corporate income taxes$190Personal income taxes$875Corporate retained earnings$210Net foreign factor income$0Government transfer payments to households$780Net interest payments to households$20On the basis of Table 5.2, national income is
A. $3,785 billion. B. $4,020 billion. C. $3,595 billion. D. $2,475 billion.
Antitrust laws seek to prevent actions that harm society such as
A) price discrimination. B) refusal to deal. C) predatory pricing. D) All of the above.