According to the law of increasing costs, as a textile company spends more money to eliminate dust particles from the workplace to increase worker safety
A. the cost of reducing 70 percent of the dust in the factory will be the same as the cost of reducing the first 50 percent of the dust in the factory.
B. the cost of reducing 70 percent of the dust in the factory will be less than the cost of reducing the first 50 percent of the dust in the factory.
C. the cost of reducing 70 percent of the dust in the factory will be greater than the cost of reducing the first 50 percent of the dust in the factory.
C. the cost of reducing 70 percent of the dust in the factory will be greater than the cost of reducing the first 50 percent of the dust in the factory.
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Assume the demand for sugar decreases and the supply of sugar increases. Which of the following outcomes is certain to occur?
A. The equilibrium quantity of sugar will rise. B. The equilibrium price of sugar will rise. C. The equilibrium quantity of sugar will fall. D. The equilibrium price of sugar will fall.
Bank reserves include
A) vault cash and loans to bank customers. B) vault cash and deposits with the Federal Reserve. C) customer checking accounts and vault cash. D) deposits with the Federal Reserve and holdings of securities. E) loans to bank customers and deposits with the Federal Reserve.
An individual's level of utility is based on fulfillment of needs as opposed to wants
a. True b. False Indicate whether the statement is true or false
A monopolist is
A) a firm with the largest annual sales in a country. B) a single supplier of a good for which there is no close substitute. C) a large firm that makes all the other firms in the industry do what it wants. D) a supplier of a good that everyone needs with the result that it makes large profits.