Suppose the production of mp3 players can be represented by the following production function: q = L0.4K0.4. The firm currently produces q1 units. If all inputs doubled, the new level of output will equal
A) 20.4 q1.
B) 20.8 q1.
C) 0.8 q1.
D) 1.6 q1.
B
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Which of the following groups has had declining labor force participation over the past 30 years?
A. Women B. Men C. Teenagers D. Americans
The recession of 2007-2009 began in ________, with the end of the economic expansion that had begun in ________
A) July 2007; August 2006 B) January 2007; April 1984 C) December 2007; November 2001 D) March 2007; March 1995
Security threats, economic desperation, oppression, and family separation often lead to______ , a situation that commonly creates human rights questions even within stable democracies.
Fill in the blank(s) with the appropriate word(s).
The data below relate to a pure monopolist and the product it produces. What is the profit-maximizing output and price for this monopolist?
A. P = $12; Q = 5
B. P = $14; Q = 4
C. P = $15; Q = 3
D. P = $18; Q = 2