In 2010, the medical specialty that earned the highest rate of return on investment was
a. general primary care.
b. Internal medicine.
c. pediatrics
d. orthopedic surgery
e. none of these
D
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Suppose Sarah owns a small company that makes wedding cakes. The table below shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number ofCakes Per DayTotal CostPer Day0$1001$1802$2203$3004$4005$5206$660If the market for wedding cakes is perfectly competitive, and wedding cakes sell for $95 each, then Sarah should produce ________ cakes per day.
A. 6 B. 3 C. 5 D. 0
The European Union antitrust law focuses on which of the following?
A) furthering the social interest B) consumer welfare C) the means to monopolize a market D) ethics
The relationship between a pure-strategy Nash equilibrium and a dominant-strategy equilibrium is that
A) a dominant-strategy equilibrium is a special case of a pure-strategy Nash equilibrium. B) a pure-strategy Nash equilibrium is a special case of a dominant-strategy equilibrium. C) they are the same. D) there may not be a dominant-strategy equilibrium, but there always is a pure-strategy Nash equilibrium. E) they are mutually exclusive and exhaustive, in that a dominant-strategy equilibrium is the same thing as a mixed-strategy Nash equilibrium.
If the total cost of producing 10 jets is $28 million and the total cost of producing 11 jets is $30 million, this firm is experiencing
A. economies of scale in the range of 10 to 11 jets. B. constant returns to scale in the range of 10 to 11 jets. C. diseconomies of scale in the range of 10 to 11 jets. D. increasing average variable costs in the range of 10 to 11 jets.