Refer to the below table. The marginal revenue product of the fourth unit of input is approximately:
A. $27
B. $21
C. $16
D. $13
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In recent years, Taiwan has experienced increases in savings and investment. As a result of the higher investment and saving, we expect i. increases in physical capital. ii. increases in the inflation rate. iii. advances in technology
A) i and iii B) i and ii C) ii only D) ii and iii E) i, ii and iii
Refer to Figure 14.2. Other things equal, a movement from point C to point B would be caused by
A) an increase in the price level. B) a decrease in the price level. C) a positive supply shock. D) a negative supply shock.
How do the marginal costs of pollution reduction and the marginal costs of pollution damage change as pollution levels increase?
a. The marginal costs of pollution reduction remain constant and the marginal costs of pollution increase b. The marginal costs of pollution reduction increase and the marginal costs of pollution damage increase c. The marginal costs of pollution reduction increase and the marginal costs of pollution damage decrease d. The marginal costs of pollution reduction decrease and the marginal costs of pollution damage increase e. The marginal costs of pollution reduction decrease and the marginal costs of pollution damage decrease
Miniville is an isolated town located on the southern shore of Lake Condescending, a very large lake. The western edge of Miniville is adjacent to impassable mountains and there are no towns or businesses for many miles to the east. The 300 residents of Miniville are evenly distributed along 3 miles of shoreline on the lake, east of the mountains. Lake Shore Drive, the only street in town, provides access to Miniville's homes and businesses. All residents live between the lake and the street; businesses locate on the other side of the street. Lake Shore Drive is 3 miles long, and the points labeled A, B, and C are 1, 2, and 3 miles from the western end of Lake Shore Drive, respectively. All residents of Miniville shop at the store located closest to their homes. src="https://sciemce.com/media/4/ppg__1420829190927__f1q536g1.jpg" alt="" style="vertical-align: 0.0px;" height="95" width="382" />If three stores were to open sequentially, you would expect that those stores would be located:
A. in a cluster, near the location chosen by the first store to locate.
B. at points A, B, and C.
C. halfway between the mountains and A, halfway between A and B, and halfway between B and C.
D. in a cluster, nearest the mountains.