The table below shows how total donations, average donations, total labor costs and average labor costs vary depending on the number of employees State U hires for its fundraising activities.Number ofEmployeesTotal DonationsAverage DonationsTotal Labor CostsAverage Labor Costs1$30,000 $8,0002$42,426 $17,000 3 $17,321$27,000 4$60,000 $9,5005 $13,416$50,000 The President of State U decides to hire fundraising employees as long as their average benefit exceeds their average cost. This results in ________ employees being hired and a net benefit (total donations minus total labor costs) of ________.
A. 4; $22,000
B. 4; $60,000
C. 5; $67,080
D. 5; $17,080
Answer: D
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Answer the following statement(s) true (T) or false (F)
1. A utility maximizing person gets marginal utility from consuming their last pencil and pen of 4 and 10 respectively. If pencils cost 10 cents a piece, the pens must cost 25 cents a piece. 2. A utility maximizing person gets marginal utility of 20 from consuming their last piece of bread and of 10 from consuming their last glass of milk. If a piece of bread costs 5 cents, then a glass of milk must cost 20 cents. 3. When a consumer spends all of the income, it must be true that they are maximizing utility.
If buyers were required to pay the federal excise tax on gasoline directly to the government, the demand curve for gasoline would shift up
Indicate whether the statement is true or false
Which of the following can be added to profit to obtain total revenue?
a. net profit b. capital profit c. operational profit d. total cost
Based on our understanding of the model presented in Chapter 3, we know with certainty that an equal and simultaneous increase in G and T will cause
A) an increase in output. B) no change in output. C) a reduction in output. D) an increase in investment.