Variable costs
A) do not vary with price.
B) do not vary with output.
C) vary with price.
D) vary with output.
D
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A firm uses two inputs, A and B. At its optimal choice of input proportions,
A. MRP of A = MRP of B. B. MRPA/PA= MRPB/PB. C. MPP of A = MPP of B. D. All of the responses are correct.
For most years of the nineteenth century, U.S. imports exceeded exports, and the U.S. economy had a trade deficit, which contributed to strong economic growth. This contributed to the U.S. economy having the highest per capita GDP in the world by around
a. 1900. b. 1910. c. 1920. d. 1930.
A new moving van will increase a moving company's yearly revenue by $15,000 . Its useful life is three years. If the interest rate is 10 percent (0.1) per year, which of the following is the highest price the firm would be willing to pay for the van? Assume that each year's revenue is received at the end of the year. (Answers are rounded to the nearest $100.)
a. $15,000 b. $20,000 c. $37,300 d. $44,100 e. $45,000
The participation rate in the United States in 2010 was approximately equal to
A) 96%. B) 90%. C) 65%. D) 26%. E) 5%.