From the table above, which gives data about the U.S. labor market in 1933, the labor force is
A) 48 million.
B) 60 million.
C) 65 million.
D) 100 million.
E) 12 million.
B
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In a small town the local hardware store can charge higher prices than one in a large city with many hardware stores because the local hardware store
A. is privately owned. B. has fewer items to sell so they need to sell items for higher prices. C. has more market power in the small town. D. is motivated by profit while the other hardware stores are not.
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. Suppose Always There Wireless charges $0.35 per minute. How many minutes will low-demand consumers purchase?
A. 65 B. 35 C. 75 D. 165
Stephanie has decided to eat lunch between classes. She has ranked her choices, from highest to lowest as, (1 ) turkey sandwich, (2 ) tuna sandwich, (3 ) slice of cheese pizza, (4 ) cheeseburger
The opportunity cost of the eating turkey sandwich is A) the combined value of the tuna sandwich, slice of cheese pizza and cheeseburger. B) the value of tuna sandwich, the next best choice. C) the value of the cheeseburger. D) zero since she has satisfied a want.
If an increase in the price of one input causes an increase in demand for labor, the two inputs are
A) complementary. B) substitutes. C) interchangeable. D) flexible.