The schedules in the table give the marginal social benefit and marginal social cost of a DVD. If the number of DVD produced is cut to 2 a week, then the ________
A) minimum supply-price of the second DVD is $18
B) price is $18 a DVD
C) opportunity cost of the second DVD is $22
D) value of the second DVD is $20
A
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The table above shows the marginal costs and marginal benefits of college education. If the market for college education is perfectly competitive and unregulated, at the equilibrium quantity, the marginal private benefit is
A) zero. B) $14,000. C) $19,000. D) $16,000.
Shortage means the same thing as scarcity
Indicate whether the statement is true or false
The price of a new car is $40,000 while the price of a five-year old car of the same brand is $16,000. The next year the price of the new car increases to $44,000 and the price of a five-year old car of the same brand is $17,600
The relative price of the used car A) decreased by $2,400. B) decreased by 10 percent. C) increased by 10 percent. D) remained constant at 0.4.
Which of the following is most accurate?
a. African Americans were generally hurt economically relative to whites during WW II. b. African American education rates are now about the same as those of whites. c. The poverty rate for African Americans is about 300% larger than the rate for whites. d. The average household income of African Americans is currently about 90% of whites'.