An individual supply schedule is usually shown on a ______.
a. table
b. graph
c. pie chart
d. Venn diagram
a. table
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Suppose a perfectly competitive firm's production function is q = L0.2K0.6 and it takes the wage and price as given. Then the firm's long-run demand for labor as a function of K, w, and p is
A) p5((0.2/w)2(0.6/r)3). B) p5((0.2/w)4(0.6/r)5). C) p5((0.2/w)5(0.6/r)4). D) p5((0.2/w)3(0.6/r)2).
Nick owns a dog whose barking annoys his neighbor Jane. Suppose that the benefit of owning the dog is worth $700 to Nick, and that Jane bears a cost of $500 from the barking. Assume that the city has no ordinance against barking dogs. A possible private solution that would benefit both parties is for: a. There is no private solution that would improve this situation for both parties. b. Jane to
pay Nick $650 to get rid of the dog. c. Jane to pay Nick $800 to get rid of the dog. d. Nick to pay Jane $600 for her inconvenience.
Which of the following is not a potential source of demand for real loanable funds in the U.S. real loanable funds market?
a. U.S. individuals. b. U.S. businesses c. U.S. governments (state, local, and national). d. Foreign governments, businesses, and individuals. e. All the above are potential sources of demand.
When a strategy is the best one to follow no matter what strategy other players choose, it is called a:
A. dominated strategy. B. golden decision. C. zero-sum strategy. D. dominant strategy.