Refer to the accompanying table. Pat's opportunity cost of delivering a pizza is making: Pizzas Made Per HourPizzas Delivered Per HourCorey126Pat1015
A. 3/2 of a pizza.
B. 2/3 of a pizza.
C. 12 pizzas.
D. 10 pizzas.
Answer: B
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Consider a downward-sloping demand curve. When the price of a normal good increases, the income and substitution effects
A) work in the same direction to increase quantity demanded. B) work in the same direction to decrease quantity demanded. C) work in opposite directions and quantity demanded increases. D) work in opposite directions and quantity demanded decreases.
Showing up to a job interview and not knowing any information about the company is an example of a:
A. positive signal. B. negative signal. C. positive screen. D. negative screen.
Drawbacks of the federal government budget process include: a. the use of continuing resolutions that reward last year's programs without adequate review of performance. b. Congress having too much control over the budget
c. a short review period for Congress that results in poor choices in funding programs. d. Congress having to approve a budget with at least a two-thirds majority vote. e. the President having too much power to cancel any proposed expenditure without the possibility of a Congressional override.
A worker's contribution to the firm's revenue is measured directly by the worker's: a. value of marginal product
b. marginal product multiplied by his/her wage. c. marginal product minus his/her wage. d. contribution to total output.