Refer to Scenario 7.1. The total cost to produce 50 cookies is
A) $20
B) $25
C) $50
D) $60
E) indeterminate
A
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According to the AK growth model, taxes on corporate income and capital gains ________ the incentive for firms to accumulate capital and ________ the steady-state growth rate
A) increase; increase B) reduce; reduce C) increase; do not change D) reduce; do not change
Slick Shades has a constant marginal cost of production equal to $80 and the distributors have a constant marginal cost of distribution equal to $30. If Slick Shades is producing the profit-maximizing number of sunglasses (in hundreds), what is the profit-maximizing wholesale price?
The figure above shows the wholesale demand and marginal revenue curves for Slick Shades Sunglasses, a sunglasses firm with market power. Slick Shades Sunglasses has a constant marginal cost of production and it sells to perfectly competitive independent retail distributors that have a constant marginal cost of distribution.
A) $150
B) $120
C) $140
D) $160
The price mechanism deals _____ with the issue of an equitable income distribution and ____ with the issue of efficiency.
A. well; well B. poorly; poorly C. well; poorly D. poorly; well
The Supreme Court's decision in the Standard Oil of New Jersey case was
A) to force the company to send refund checks to customers. B) to force the company to pay $10 billion in fines. C) to increase the fine imposed by a lower court. D) to break up the company.