Which of the following marketing pieces takes the concept of marginalism into account? Select one:
a. Computers, monitors and other technical equipment in local dumps are causing $1 million dollars in environmental damage. Vote yes to allocate $100,000 in cleanup spending.
b. Help save the manatees. Contribute to the campaign to raise $10,000.
c. Contribute $50 annually to the Heifer Foundation and give a chicken to a family living in poverty. This gift will help generate an additional $100 in household income through the sale of the eggs produced.
d. Stephanie, a new college graduate, accepts the first job offer for $50,000 a year.
c. Contribute $50 annually to the Heifer Foundation and give a chicken to a family living in poverty. This gift will help generate an additional $100 in household income through the sale of the eggs produced.
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The above figure shows the domestic market for wheat. Suppose this market is isolated from global competition and the government intervenes by setting a support price of $15 a ton
The quantity bought by domestic users once the price support is in place is A) 300 million tons. B) 400 million tons. C) 250 million tons. D) 200 million tons. E) 100 million tons.
Goods whose income elasticities are negative are called
A) normal goods. B) superior goods. C) inferior goods. D) complements.
The demand curve for labor is also
A) the supply curve for the output labor is used to produce. B) the demand curve for the output produced with labor since the demand for labor is a derived demand. C) the marginal product of labor curve. D) the marginal revenue product of labor curve.
If the government decreases spending and taxes by 1,000 units and the marginal propensity to consume is .9, then
a. more information is needed. b. output will decrease by 900. c. output will decrease by 10,000. d. output will increase by 10,000.