Hours of OperationMarginal Cost16212318424530636742
Krystal runs a nail salon and needs to decide how many hours to stay open. Table 2.2 illustrates her marginal costs of staying open for each additional hour. Suppose that we observe Krystal staying open 4 hours per day. If she is following the marginal principle, what must her marginal benefit be?
A. $12
B. $18
C. $24
D. $30
Answer: C
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During the recession of 2007-2009, the Federal Reserve began cutting its target for the Federal Funds rate in
A. September of 2007. B. September of 2008. C. January of 2009. D. January of 2007.
Refer to the information provided in Figure 3.10 below to answer the following question(s).
Figure 3.10Refer to Figure 3.10. A decrease in quantity supplied is represented by a movement from
A. Point B to Point A along supply curve S2. B. S2 to S3. C. Point B to Point C along supply curve S2. D. S2 to S1.
Activities that encourage faster growth are
A) high levels of consumption and low levels of savings. B) high levels of saving and investment in human capital. C) imposing trade barriers to limit international trade and thereby protect national industries. D) limiting property rights so that everyone can use any invention. E) taxes on saving that serve to encourage more spending and less saving.
Mandy saved her allowance to buy a 12 pack of cream soda. When Mandy's brother saw the soda, he took four. Sodas were allocated between Mandy and her brother through
A) force. B) majority rule. C) first-come, first-served. D) sharing equally. E) personal characteristics.