In which of the following ways is the private market sector similar to the public sector in terms of decision making?
A. Both sectors may use a type of "force" if necessary.
B. There is competition for scarce resource in both sectors.
C. Votes by individual voters are basically equal in importance with dollars spent by individuals on goods.
D. Prices determine the demand for goods and services in each sector.
Answer: B
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Using the table above, for which of the following levels of employment does the marginal product of labor exceed the average product of labor at Decent Donuts?
A) four workers B) seven workers C) both of the above D) neither of the above
Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. If Always There Wireless charges the highest fixed fee that it can without losing the low-demand consumers, which of the following is the most profitable price per minute?
A. $0.35 B. $0.40 C. $0.50 D. $0.60
State banks failed to find a way to print money under the Constitution
Indicate whether the statement is true or false
If sellers expect the price of a good to rise in the future, what are they likely to do?
(A) Put more goods on the market immediately. (B) Store goods now to sell more in the future. (C) Raise their prices now. (D) Set prices according to the law of demand.