The Roomba 570 is a robotic vacuum cleaner made and sold by iRobot. It can vacuum 4 rooms on a single battery charge and it costs $2 worth of electricity to charge the Roomba
Lynn is a house cleaner and can vacuum 4 rooms in 1 hour with a traditional vacuum. Suppose you want the 4 rooms in your house vacuumed once a week for one year. Ignoring the cost of any electricity Lynn uses, which method is economically efficient if Lynn charges $20 per hour? $30 per hour? A) Roomba if Lynn charges $20 per hour and Lynn if she charges $30 per hour
B) Lynn if she charges $20 or $30 per hour
C) Roomba if Lynn charges $20 or $30 per hour
D) Lynn if she charges $20 per hour and Roomba if Lynn charges $30 per hour
D
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Suppose that newspaper companies are now required to use recycled paper, which is more expensive than new paper. Which of the following is most likely to result if the newspaper industry is highly competitive?
A) The firms' costs rise, resulting in positive economic profit in the short run and, hence, the industry supply curve shifts rightward in the long run. B) The firms' costs rise, resulting in economic losses in the short run and, hence, the industry supply curve shifts rightward in the long run. C) The firms' costs rise, resulting in economic losses in the short run and, hence, the industry supply curve shifts leftward in the long run. D) The industry supply curve shifts leftward in the short run, causing permanent long-run economic losses.
Explain what happens to the world real interest rate if the government of Panama runs a large government budget deficit
What will be an ideal response?
On average the productivity of an individual usually peaks when the individual is about
A) 20. B) 30. C) 50. D) 60.
After graduating from college, Jim had two choices. He can either move to Florida, from Philadelphia, where he can work as an analyst and earn $60,000 or he can stay in Philadelphia and work in a car dealership earning $59,000 . His opportunity cost of moving to Florida includes
a. The benefits he could have received from playing soccer b. $59,000 c. both a and b d. none of the above