Which of the following is an example of an organization using marginal analysis?
A. A hotel manager calculating the average cost per guest for the past year.
B. A farmer hoping for rain.
C. A government official considering what effect an increase in military goods production will have on the production of consumer goods.
D. A business calculating economic profits.
Answer: C
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A patent creates a monopoly by restricting ________
A) demand for the product B) the number of complements for the product C) the amount of advertising that can be undertaken D) entry into the market
The price that we observe in the market is
A) the law of demand. B) a substitute. C) the money price. D) the relative price.
The difference between U.S. financial regulation between the 1930s-to-1980 period and the 1980-to-2010 period is:
a. The earlier period was characterized by heavy government regulations and the later one was characterized by looser government regulations. b.The earlier period was characterized by heavy use of the originate-to-distribute" strategy. c. The earlier period was characterized by recurring, nation-wide speculative housing bubbles. d. The earlier period was characterized by heavy use of securitization. e. All of the above.
The CPI is a measure of the overall cost of
a. the inputs purchased by a typical producer. b. the goods and services purchased by a typical consumer. c. the goods and services produced in the economy. d. the stocks on the New York Stock Exchange.