Regulation that intends to improve the quality of service provided by carpenters will tend to increase the price of their services
a. True
b. False
A
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A group of producers who join forces to buy supplies and equipment and to market their output is a(n) ______
A) not-for-profit organization. B) S corporation. C) producer cooperative. D) sole proprietorship. E) cottage industry.
A profit-maximizing monopoly will spend on a process innovation
a. up to the point where P = MC.
b. up to the point where P = AC.
c. anywhere where MR>MC.
d. up to the point where MR = MC.
e. anywhere where MR
Imagine that there is a group of workers, group B, which has an average productivity of $9 per hour. Suppose workers from group A have an average productivity of $15 per hour and that employers have a productivity test that is 100% accurate 1/3 of the time, but has no value 2/3 of the time. If a worker from group B took the same productivity test that was given to workers in group A, what is the best estimate of the VMP for this worker if his test score is $21 per hour?
A. $21 B. $13 C. $17 D. $18
Two firms, Kegareta Inc. and Sucio Enterprises, have access to five production processes, each one of which has a different cost and gives off a different amount of pollution. The daily costs of the processes and the corresponding number of tons of smoke emitted are shown in the accompanying table. ABCDE 4 tons/day3 tons/day2 tons/day1 tons/day0 tons/dayKegareta Inc.$40$85$135$190$250Sucio Enterprises$120$175$250$345$460 Suppose the government wants to reduce pollution by 50 percent by imposing a tax of $T per day on each ton of smoke emitted. Of the options listed, what's the smallest tax, $T, that will achieve this goal?
A. $51 B. $61 C. $56 D. $54