Samurai Sushi produces sushi using one variable input - labor. Samurai Sushi is a consumer in the ________ market and a producer in the ________ market.
A. labor; sushi
B. capital; labor
C. capital; sushi
D. sushi; labor
Answer: A
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A demand curve is defined as the relationship between
A) the income of consumers and the quantity of a good that producers are willing to sell. B) the income of consumers and the quantity of a good that consumers are willing to buy. C) the price of a good and the quantity of that good that producers are willing to sell. D) the price of a good and the quantity of that good that consumers are willing to buy.
Hyperinflation is defined as an inflation rate:
A. that doubles each year. B. that exceeds 50 percent per month. C. that increases rapidly in one year and decreases rapidly the next year. D. that is moderately high but anticipated.
As a form of business, a partnership
A) has limited liability. B) has only one owner. C) cannot issue stock. D) has the most government rules and regulations affecting it.
Allison's Auto Art is a company that applies pinstripes to vehicles. Allison's cost for a basic 1-color pinstriping job is $35, and she charges $95 for this service
For a total price of $175, Allison will apply a fancier 3-color pinstripe application to an automobile, a service that adds an additional $40 to the total cost of the package. Should Allison continue to offer the 3-color pinstripe application? A) No, her marginal benefit is less than her marginal cost. B) Yes, she still makes a profit by selling the 3-color application. C) yes, but only if she lowers the price of the 1-color application D) More information is needed for Allison to make this decision.