Refer to the figure above. What is the domestic production of pens in Lithasia, after the economy opens up to free trade?
A) 6 units
B) 12 units
C) 16 units
D) 22 units
A
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The Patient Protection and Affordable Care Act will require
a. health insurers to provide coverage to applicants regardless of prior health conditions. b. all Americans to purchase an approved health insurance policy or pay a tax-penalty for failing to do so. c. employers with more than 50 full-time employees to either provide approved health insurance for their employees or pay a fine for the failure to do so. d. all of the above.
The price survey of the goods contained in the CPI basket is conducted
What will be an ideal response?
Sammy has a drone that he values at $1,500. Dean values the same drone at $2,000. Sammy decides to sell the drone to Dean for $1,800. The government offers a subsidy of $800 to the buyers of drones
Producer surplus is ________ and consumer surplus is ________. A) $300; $200 B) $300; $1,000 C) $1,100; $800 D) $1,100; $600
Suppose a firm uses workers and office space to produce output. The firm is locked into a year-long lease on its office space, but it can easily vary the number of employee-hours it uses each day. The accompanying table describes the relationship between the number of employee-hours the firm uses each day and the firm's daily output. Each unit of output sells for $2, the hourly wage rate is $14, and the rent on the office space is $50 per day.Employee-Hours Per DayOutput Per Day0014048091201516023200 When the firm uses 9 employee-hours per day, its total variable cost each day is:
A. $56. B. $84. C. $30. D. $126.