In the above table, what is the marginal utility of the sixth hotdog consumed?
A. 120
B. -17
C. 7
D. 137
Answer: B
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Refer to the figure above. What is the equilibrium price after the demand curve shifts to D2?
A) $20 B) $40 C) $60 D) $80
Full employment is defined by most economists as the minimization of
a. cyclical unemployment. b. frictional unemployment. c. seasonal unemployment. d. structural unemployment.
John Doe participates in a welfare program which pays him $6,000 dollars. He can work but he loses 50 cents of the welfare check for every dollar he earns over $5,000. How much wage income will he have to earn to escape poverty if the poverty line for him is $17,000 per year?
A. $17,000 B. $11,000 C. $12,000 D. $14,000
If the firm shown in the table changes the quantity it produces from 2 to 4, what would be the change in profit?
a. -1
b. 0
c. 1
d. 2