The production function in Scenario 7.3 exhibits:
A) decreasing returns to scale.
B) constant returns to scale.
C) increasing returns to scale.
D) all of the above at various levels of output.
B
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Suppose the nation is producing at a point on its PPF. If the marginal cost of producing one more computer is greater than the marginal benefit, the nation is producing
A) too few computers to be allocatively efficient. B) too many computers to be allocatively efficient. C) the correct number of computers to be allocatively efficient. D) at the point of allocative efficiency. E) More information is needed to determine if the nation is or is not producing at the allocatively efficient point.
A risk premium is
A. lower the more risky the future stream of profits. B. an additional compensation paid to the workers of a business enterprise. C. subtracted from the discount rate when calculating the present value of a future stream of profits. D. a measure calculated to reflect the riskiness of future profits.
What is corporate culture?
What will be an ideal response?
Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. If the price per cheeseburger is $6, there is a(n)
A. market equilibrium. B. excess supply of 700 units. C. excess demand of 1,000 units. D. excess demand of 500 units.