Brett buys a new cell phone for $100. He receives consumer surplus of $80 from the purchase. How much does Brett value his cell phone?
A) $180 B) $100 C) $80 D) $20
A
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Over the past two decades, the unemployment rates in
A) the Eurozone have been generally less than U.S. unemployment rates. B) the Eurozone have been generally greater than U.S. unemployment rates. C) the United Kingdom have almost always been much greater than the U.S. unemployment rates. D) Canada are less than the U.S. unemployment rates. E) Japan are much larger than those in the United States.
Which of the following are taxpayers not allowed to deduct from taxable income?
a. state income taxes b. local income taxes c. property taxes d. interest on auto loans
Refer to Figure 7.1. At output level Q3
A) average fixed cost reaches its minimum. B) average total cost reaches its minimum. C) average variable cost reaches its minimum. D) marginal cost reaches its minimum. E) all of the above
Markets work well for allocating ____________ efficiently, but not always so well for allocating ______________________.
A. private goods; public goods B. public goods; private goods C. common resources; public goods D. public goods; common resources