Preferred Budgets ($ in millions)45678910Number of voters (in thousands)516253022193Table 15.3Table 15.3 shows the preferred budget for a new performance center and the number of voters in a community who prefer that budget. What budget does the median voter prefer?
A. 6
B. 7
C. 8
D. 9
Answer: B
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Mike’s Mealbarn is a competitive firm in the hot dog stand business. How will each of the following affect the short-run demand for labor at Mike's?
(i) Mike buys a new grill that makes the cooks more productive. (ii) Increasing numbers of people become vegetarians. (iii) A health inspector fines Mike $500 for unsanitary conditions, but fortunately Mike's customers don't learn about it.
Which of the following is true in the long run?
A) Total cost equals fixed cost. B) Total cost is constant. C) All costs are variable. D) Marginal cost equals zero. E) None of the above is true in the long run.
Explain the differences between a change in supply and a change in quantity supplied
What will be an ideal response?
If a country raises its budget deficit, then in the market for foreign-currency exchange
a. supply shifts left. b. supply shifts right. c. demand shifts left. d. supply shifts right.