If at its current production level, a dominant firm's marginal cost is $2 and its residual marginal revenue is $3, which of the following statements is true?
A) It should increase production to maximize profit.
B) It should decrease production to maximize profit.
C) It is maximizing profit.
D) It should cut production in half to maximize profit.
A) It should increase production to maximize profit.
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Ethnic categories may be based on socially perceived differences in
A) historical origins. B) religion. C) descent. D) language. E) all of the above.
If a 4 percent increase in the price of a good leads to a 1 percent decrease in the quantity demanded, the price elasticity of demand for the good equals ________.
A) 0.33 B) 1.0 C) 0.25 D) 4.
The Lua' in northern Thailand most commonly practice what form of subsistence strategy?
A) Pastoralism B) Foraging C) Industrialism D) Agriculture E) Horticulture
Which of the following is the best example of xenophobia?
a. The Spanish attempted to convert Native Americans to Catholicism throughout North and South America in the sixteenth and seventeenth centuries. b. In recent decades, Aboriginal populations have restored many aspects of their national identity. c. India freed itself from colonial rule in 1947. d. Throughout its history, the United States has shifted the borders of Native American reservations to exploit locally available resources.