Refer to Figure 8.4. The marginal cost of the sixth microwave oven is
A) $83.33.
B) $116.67.
C) $200.
D) $1200.
B) $116.67.
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A circular flow model shows the interrelationship between the ________ market and the ________ markets
A) household; goods B) household; factor C) business; household D) expenditure; income E) goods; factor
When negative externalities exist, the private market equilibrium represents a
A) market price which is too low and a market quantity which is too low. B) market price which is too low and a market quantity which is too high. C) market price which is too high and a market quantity which is too low. D) market price which is too high and a market quantity which is too high.
The profit motive counteracts
a. consumer discrimination. b. discrimination in sports. c. the beauty premium. d. None of the above is correct.
Suppose that a disease that affects people who consume beef has been discovered in the United States. One likely result is:
A. a decrease in demand for beef. B. a decrease in the quantity demanded of beef. C. an increase in buyers' reservation prices for beef. D. a decrease in demand for chicken.