A farmer has 500 acres on which he has previously grown corn. His yield per acre is 100 bushels of corn. If his production flexibility contract payment is $21,250, then what is the corn payment rate?
A) $0.45
B) $0.67
C) $0.50
D) $0.10
E) There is not enough information to answer the question.
C
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The World Trade Organization (WTO) is an international organization dedicated to erecting trade barriers between nations
Indicate whether the statement is true or false
Refer to Figure 11-7. When the output level is 100 units average fixed cost is
A) $10. B) $8. C) $5. D) This cannot be determined from the diagram.
Which of the following trends is most likely the result of a contractionary monetary policy?
a. The demand for both bungalows and mansions rises. b. The demand for both economy motels and luxury resorts drops. c. The demand for ground chuck drops, but the demand for filet mignon rises. d. The demand for designer dresses rises, but the demand for inexpensive dresses drops.
Sellers of high-quality used goods are ________ likely to offer money-back guarantees because ________.
A. more; buyers will not ask for their money back B. less; buyers will be willing to purchase high-quality goods even without a guarantee C. more; they are wealthier and so can afford to give money back D. less; buyers consider guarantees to be a sign of an inferior good