Refer to Scenario 14.1. Marco and Lisette decide to help each other out and agree to split any medical bills from their doctor. With this new arrangement, Lisette's dominant strategy will give her a net benefit of
A) $45.
B) $75.
C) $120.
D) $150.
A
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If at an output of 4,000 units, Sloan Company is making an economic profit and marginal profit is $20 per unit, the firm should
A. reduce output to maximize total profit. B. increase output until marginal profit falls to zero. C. do whatever is necessary to increase marginal profit. D. There is not enough information to make a decision.
Which of the following strategies might a corporation follow to avoid a takeover?
a. refuse stockholders the right to sell their stock b. announce that all common stock will now be nonvoting c. announce that all stock will now become bonds d. use corporate retained earnings to purchase outstanding stock e. refuse to permit any potential raider access to any corporate records
A minimum wage that is set below the equilibrium wage will:
A. cause increased unemployment. B. have no effect on employment. C. cause the overall wage to increase. D. cause the overall wage to decrease.
A firm can use 5 workers and 10 machines, 7 workers and 9 machines, or 8 workers and 9 machines to produce four cars. If each worker costs $200 and each machine is rented for $50, the economically efficient input combination is:
A. 8 workers and 9 machines. B. 7 workers and 9 machines. C. 5 workers and 10 machines. D. 12 workers and 19 machines.