When the price of gasoline increases significantly, the delivery companies like UPS, FedEx, and the USPS all find:
A. Their TVC curves shifting up
B. Their TFC curves shifting up
C. Themselves moving up along their TC curves
D. Themselves moving up along their TVC curves
A. Their TVC curves shifting up
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According to this Application, cell phones were introduced to the public in 1983, but it took the Bureau of Labor Statistics ________ to include them in calculating the CPI
A) 3 years B) 7 years C) 15 years D) 24 years
In the figure above, moving from point B to point D
A) has an opportunity cost of one ton of butter per month. B) has an opportunity cost of one ton of guns per month. C) requires an increase in technology. D) is impossible.
Suppose the fixed cost of Christmas trees business is $7,000 and sunk. The variable cost for each tree is $20. According to the forecast, the market price for Christmas trees is $25 each and the owner could sell 1000 trees at most each year
The owner A) should shut down the business. B) should keep operating. C) should sell less. D) None of the above.
How does private ownership and a competitive market affect the efficiency of economic organization?