At a price of $3.50, the quantity supplied by the market will be 14.PriceAnn's SupplyBarry's SupplyCharlie's SupplyMarket Supply$0.00 00000.50 10011.00 21031.50 32052.00 43072.50 540-3.00 650-3.50 752-4.00 852-
Answer the following statement true (T) or false (F)
True
The market supply is constructed by summing the quantities supplied by each supplier.
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If the city mayor would perform mayoral duties for $10,000 because he just loves the limelight, but the salary for the position is $45,000 . then the mayor is earning
a. $10,000 rental income b. $35,000 professional rent c. $45,000 differential rent d. $35,000 wage-related rent e. $10,000 wage-related rent
On a graph we draw a consumer's budget constraint, measuring the number of pineapples on the horizontal axis and the number of pencils on the vertical axis. If the slope of the budget constraint is -6, then
a. a pineapple costs six times as much as a pencil. b. the opportunity cost of a pineapple is 6 pencils. c. the opportunity cost of a pencil is one-sixth of a pineapple. d. All of the above are correct.
Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following shows the extra money consumers must pay for the 100,000 pounds of fish they purchase?
A. Triangle A B. Rectangle B C. Triangle A + Rectangle B D. Rectangle B + Triangle C
You are currently using three printing presses and five employees to print 100 sales manuals per hour. If the MRTS at this point is 0
5 (capital is on the vertical axis of the isoquant map), then you would be willing to exchange ________ employees for one more printing press in order to maintain current output. A) zero B) one C) two D) three