Under an emission tax, polluters ________ what price they have to pay to pollute, __________________________ how much pollution will be generated.
A. know; and government knows
B. don't know; and government doesn't know
C. know; but government doesn't know
D. don't know; but government knows
Answer: C
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Troll Corporation sells dolls for $10.00 each in a market that is perfectly competitive. Increasing the number of workers from 100 to 101 would cause output to rise from 500 to 550 dolls per day. The marginal revenue product for the 101st worker is:
a. $10.00. b. $500. c. $5,000. d. $1,010.
Which of the following statements about reserves is correct?
a. When an economy is in recession, banks are likely to hold a higher proportion of reserves. b. When an economy is in recession, banks are likely to hold a lower proportion of reserves. c. When an economy is in recession, banks are likely to hold the same proportion of reserves. d. When an economy is in recession, banks are likely to hold no reserves.
Enhanced Computers specializes in rebuilding computers. Recently reorganized into geographic divisions, the Southern division headed by Dan Unowsky is outperforming the other divisions in sales and profits. However, corporate executives have noticed that Unowsky no longer sends refurbished computers to other divisions, and he has instituted special warranties and pricing systems unavailable in the rest of the company. Should Unowsky be promoted or fired?
What will be an ideal response?
A firm’s long-run average total cost curve is typically ______ than its short-run average total cost curves.
a. equal to or lower than b. equal to or higher c. higher by a fixed amount d. lower by a fixed amount