Low quality is essentially the same as
A) low price.
B) efficient production.
C) high price.
D) low price elasticity.
C
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If the production of a good causes an external cost, then the efficient quantity is
A) equal to the quantity at which the marginal benefit equals marginal cost. B) less than the quantity at which the marginal benefit equals the marginal cost. C) more than the quantity at which the marginal benefit equals the marginal cost. D) the quantity at which the marginal private benefit is greater than the marginal social benefit. E) None of the above answers is correct.
Which theory of economic growth concludes that growth can continue indefinitely?
A) the classical theory B) the neoclassical theory C) the new theory D) all of the theories
A payday loan company has decided to open several new locations in the city. To decide where to open these locations it hires consultants and pays them per store opened. At the end of the quarter, the company notices a many of the new stores' sales volume fail to meet expectations. To incentivize the consultants to instead focus on opening profitable stores, the company has decided to alter the
compensation to a percentage of the profit earned per new store. The company should expect to a. Pay the consultants more than they would per store b. Pay the consultants less than they would per store c. Pay the consultants the same d. None of the above
For which pair of goods below would an increase in income have the same effect on both goods?
A. A normal good and a luxury good. B. A superior good and a normal good. C. A normal good and an inferior good. D. An inferior good and a luxury good.