What is the good or service is given the most weight in the CPI?
A) housing
B) apparel
C) recreation
D) food and beverages
E) transportation
A
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Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $5, what is the value of marginal product of the 4th worker?
A) $300 B) $50 C) $70 D) $10
A sum of money received at a future date
A. is worth less than the same sum of money received today. B. is worth more than the same sum of money received today. C. has the same value as the same sum of money received today. D. is worth less than the same sum of money received yesterday.
Which of the following makes a firm's resources hard to imitate?
a. They don't flow from the firm's unique history b. The link between resources and advantages is difficult to discern c. They aren't socially complex d. All of the above
If both the supply and demand curves shift to the left, then we can conclude that there will be a(n): a. increase in the equilibrium quantity sold. b. decrease in the equilibrium quantity sold. c. increase in the equilibrium price
d. decrease in the equilibrium price.