Which of the following situations describing a resource allocation method most resembles the force method?
A) Seventy percent of Austin's chess club wanted to purchase new chess sets and thirty percent did not. The club purchased the sets.
B) Lattes are sold at Starbucks.
C) Food from the Weld County Food Bank is distributed to families in need.
D) Mandy saved her allowance to buy a 12 pack of cream soda. When Mandy's brother saw the soda, he took four.
E) Jose works at Intel. His manager tells him what work needs to be completed each month.
D
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A profit-maximizing perfectly competitive firm should hire workers up to the point where labor's marginal revenue product equals the wage rate
Indicate whether the statement is true or false
Assuming that the exchange rate rises by 5 percent, hence, the dollar volume of exports rises by 5 percent, then foreign exchange earnings would
a. remain constant. b. increase by 5 percent. c. actually decrease by 5 percent. d. increase by 10 percent.
Refer to Figure 9.7. Because of the policy, consumer surplus fell by
A) $10. B) $20. C) $12,500. D) $25,000. E) $45,000.
Figure 10-5
?
In Figure 10-5, points which lie on the firm’s short-run supply curve are
A. A, B, C. B. C, D, H. C. F, E, G. D. A, C, H.