Refer to the above table. Assuming that opportunity costs are constant, the opportunity cost of producing a bicycle in the United States is equal to ________, and the opportunity cost of producing a bicycle in Mexico is ________
A) 4 computers; 0.5 computer
B) 0.25 computer; 2 computers
C) 2.67 bicycles; 0.33 computers
D) 0.375 computer; 3 bicycles
A
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Refer to the figure above. What does the region ABCPe denote?
A) Economic profit B) Loss incurred by the producer C) Consumer surplus D) Deadweight loss
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. Suppose Kate enters the market first and chooses her output before Alice. What is the difference in Alice's profit when Kate enters the market first, compared to when they simultaneously select their outputs?
A. When Kate enters the market first, Alice's profit is $13,333.33 lower. B. When Kate enters the market first, Alice's profit is $5,000 lower. C. When Kate enters the market first, Alice's profit is $1,111.11 higher. D. When Kate enters the market first, Alice's profit is $3,888.89 lower.
Labor productivity times hours of work equals
a. per capita GDP. b. capital stock. c. population. d. GDP.
Central banks get the purchasing power to buy government securities by:
a. Making discount loans to banks. b. Taking loans from the government. c. Increasing their liabilities in the form of deposits from banks. d. All of the above. e. None of the above.