Products can be differentiated
A) if the buyers are homogeneous and their number increases.
B) by location and by brand name.
C) only by brand name.
D) none of the above
Answer: B) by location and by brand name.
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The lower half of income earners pay ________ of federal income taxes.
A. 1% B. 14% C. 2% D. 38%
Central planning is an ineffective method to organize an economy because
What will be an ideal response?
At Phil's Pretzel Stand, we found the following: 4 laborers produced 66 pretzels 5 laborers produced 76 pretzels 6 laborers produced 85 pretzels 7 laborers produced 88 pretzels What was the marginal product of the sixth laborer?
A) 10 pretzels B) 9 pretzels C) 6 pretzels D) 3 pretzels
At $10,000 of disposable income, Audrey's consumption expenditure was $11,000. At $20,000 of disposable income, Audrey's consumption expenditure was $19,000. What is Audrey's marginal propensity to consume?
What will be an ideal response?