When a drug ceases to require a prescription, it is said to have gone
A. off-the-wagon.
B. over-the-counter.
C. off-label.
D. off-the-rack.
Answer: B
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Which of the following was the chief source of federal revenues throughout most of the nineteenth century?
a. Income taxes b. Property taxes c. Tariffs d. Inheritance taxes
A cartel is a formal agreement among firms to control price and output of a product
a. True b. False Indicate whether the statement is true or false
The price of shrimp is $10.00 per pound and the price of lobster is $15.00 per pound. The marginal utility to Mike of pound of shrimp consumed is 60 utils. If Mike maximizes his satisfaction by consuming both shrimp and lobster, we would expect the marginal utility of the last pound of lobster consumed to equal:
a. 40 utils b. 60 utils c. 90 utils d. 150 utils
When a firm is experiencing diseconomies of scale:
A. It should increase the amount of labor it hires B. It should lower its price to the competitive level C. Its average total costs will decline if it reduces its scale of operations D. It should increase the size of its plant to decrease its average total costs