If the variable on the vertical axis increases by 20 and the variable on the horizontal axis increases by 5, the slope of the line is:
A. 0.25.
B. 4.
C. 15.
D. 100.
Answer: B
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The infant-industry argument is used by those who assert they want to
A) limit imports to protect new industries. B) increase exports to encourage growth of new industries. C) limit exports. D) increase imports to earn money to support new industries. E) encourage foreign firms to dump in the United States.
A firm that has market power
A) can charge whatever it wants for its product. B) can charge a price above marginal cost. C) has positive economic profits. D) does not lose sales when increasing price.
Refer to the following table. Fill in the table and answer the following question: What is the marginal utility of the ninth can of soda?Cans of SodaTotal utilityMarginal utility654 7 68 0954
A. 54 units of utility B. ?6 units of utility C. 2 units of utility D. 0 units of utility
Specialization in production is economically beneficial primarily because it:
A. allows everyone to have a job that he or she likes. B. permits the production of a larger output with fixed amounts of resources. C. facilitates trade by bartering. D. guarantees full employment.