The line of perfect income equality is
A. X.
B. Y.
C. Z.
D. not shown on this graph.
C. Z.
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Pure public goods involve positive externalities.
A. True B. False C. Uncertain
Figure 7-11
Refer to . As price falls from PA to PB, we could use the three demand curves to calculate three different values of the price elasticity of demand. Which of the three demand curves would produce the smallest elasticity?
a.
D1
b.
D2
c.
D3
d.
All of the above are equally elastic.
Happy Tots Child Care Units of Labor per WeekOutput per WeekMarginal Product per Week144295313441635182 Price of a unit of output: $150 per week.Cost to Happy Tots of hiring one more unit of labor: $400 per week.Table 16.1 Refer to Table 16.1. What is the marginal revenue of the third unit of labor?
A. $1,200 B. $450 C. $600 D. $300
In a freely operating market system, queuing is most likely to occur when
A) selling necessities. B) the market clearing price increases. C) demand fluctuates unpredictably and quickly. D) demand increases gradually over time.