Refer to Figure 4-18. For each unit sold, the price sellers receive after the tax (net of tax) is
A) $12. B) $8. C) $4.40. D) $3.
D
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Suppose you produce 10 bikes a day for a total cost of $1000. Total costs increase to $1100 when you produce 15 bikes. Finally, total costs increase to $1300 if you make 20 bikes
A graph showing the relationship between total costs and the number of bikes produced would be A) a negatively-sloped line that becomes steeper. B) a positively-sloped line that becomes steeper. C) a negatively-sloped line that becomes flatter. D) a positively-sloped line that becomes flatter.
A firm's demand for labor increases and its demand curve for labor shifts rightward if
A) the wage rate falls. B) the price of its product falls. C) its value of marginal product decreases. D) an advance in technology increases the marginal product of labor.
The Net Present Value approach to investment results in an investment being undertaken only if
A) its net present value is positive. B) its net present value is zero. C) it has positive cash flow. D) its internal rate of return equals the rate of interest.
Individuals economize and respond predictably to Select one:
a. positive incentives but not negative incentives b. negative incentives but not positive incentives c. both positive and negative incentives d. neither positive or negative incentives