A store remains open from 8 a.m. to 4
A) is the benefit the owner receives from staying open from 8 a.m. to 5 pm.
B) depends on the revenues the owner makes during the day.
C) must be greater than or equal to the owner's marginal cost if the owner decides to stay open.
D) is the benefit the owner receives from staying open from 8 a.m. to 6 pm.
C
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Refer to the above table. Two countries have per capita real GDPs in 2010 of $5000. If country A has a 4 percent growth rate and Country B a 5 percent growth rate, what will the per capita real GDPs of each be in the year 2060?
A) A: $15,000; B: $30,000 B) A: $40,000; B: $60,000 C) A: $35,550; B: $57,500 D) A: $24,000; B: $35,200
The prisoner's dilemma is a game of strategy:
A. in which people make rational choices that lead to a less-than-ideal result for all. B. in which people make rational choices that lead to the ideal result for all. C. that leads everyone to be as well off as possible without making another worse off. D. that leads people to make irrational choices that lead to the ideal result for all.
Which of the following would be the least likely result of a binding price ceiling imposed on the market for rental cars?
a. an accumulation of dirt in the interior of rental cars b. poor engine maintenance in rental cars c. free gasoline given to people as an incentive to a rent a car d. slow replacement of old rental cars with newer ones
The CPI is calculated
a. monthly by the Department of Commerce. b. monthly by the Bureau of Labor Statistics. c. quarterly by the Department of Commerce. d. quarterly by the Bureau of Labor Statistics.