Given that the firm offers both the products would the chefs ever pay the full $100 for the high-end wok
a. Yes, because they value it at $100
b. No, because they value it at $70
c. No, because they can get a positive consumer surplus buying the no-name brand
d. All of the above
c
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Refer to Figure 11-11. The minimum efficient scale of output is reached at what rate of output?
A) 10,000 workers B) 10,000 picture frames C) 20,000 picture frames D) 5,000 picture frames
When marginal private cost is equal to marginal social cost,
A. the activity in question generates no positive externality. B. the activity in question generates no negative externality. C. all positive externalities have been internalized. D. all negative externalities have been internalized. E. b or d
Which of the following is not an example of a factor of production?
a. A forest. b. A computer program. c. A labor leader. d. Dollars.
Conscious manipulation of the interest rate causes it to become a less effective tool in allocating resources among time periods.
Answer the following statement true (T) or false (F)