For any company operating in a marketplace, the firm attempts to maximize the value of the company's worth by setting the output where
A. costs are lowest.
B. MR = MC.
C. P < AVC.
D. AR = MC.
Answer: B
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Gary buys a house for $200,000 using $10,000 of his own money and gets a mortgage for the remaining $190,000 . If the value of the house increases 7%, what will be the percentage increase in Gary's investment?
a. 25% b. 7% c. 14% d. 70% e. 140%
Several states require cosmetologists to undertake 1,500 hours or more of training in order to obtain a license to provide hair styling or braiding services. This is an example of
a. antitrust legislation. b. government action that promotes competition. c. a barrier to entry d. the legal structure that is required for the operation of price-taker markets.
Workers in a nearby pizza restaurant may indirectly enjoy income increases from a nearby construction work site.
Answer the following statement true (T) or false (F)
A fall in the price of domestic resources will shift the aggregate:
A. demand curve leftward. B. supply curve leftward. C. supply curve rightward. D. demand curve rightward.