Linda's Autoplex performs oil changes on automobiles, light trucks, and sport utility vehicles. She is a profit-maximizing business owner whose firm operates in a competitive market. The marginal cost of an oil change is $10 . The marginal productivity of the last worker that Linda hired was 1.5 oil changes per hour. What is the maximum hourly wage that Linda was willing to pay the last worker
hired?
a. $10
b. $15
c. $20
d. $30
b
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Listed in the above table are the total revenues for the firms in two different industries. Each industry has only eleven firms. Find the four-firm concentration ratio and the Herfindahl-Hirschman Index for each industry
What will be an ideal response?
According to the theory of liquidity preference, the interest rate adjusts to balance the supply of, and demand for, loanable funds
a. True b. False Indicate whether the statement is true or false
Exhibit 9-5 Demand and cost data for a monopolist Price Quantity TR MR TC Profit $10 1 10 10 4 9 2 8 8 3 12 7 4 16 6 5 20 5 6 24 4 7 28 3 8 32 2 9 36 1 10 40 Refer to Exhibit 9-5. The demand schedule and cost schedule for a monopolist are provided. Which output level maximizes profit?
A. 2. B. 6. C. 4. D. 7.
External shocks include all of the following except
A. Wars. B. Population growth. C. Natural disasters. D. Terrorist attacks.