Which of the following might increase the supply curve of labor?
a. Increasing licensing requirements.
b. Increasing discrimination against females.
c. Increasing discrimination against blacks.
d. All of the above.
e. None of the above.
e
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If the market price is $3 and a perfectly competitive firm is producing 2,200 units and the marginal cost to produce the 2,200th unit is $2.85, which of the following is true?
A) The firm is maximizing profit. B) The firm should decrease production to maximize profit. C) The difference between marginal revenue and marginal cost (MR - MC) for the 2,200th unit is negative. D) The firm should increase production to maximize profit.
If the consumer is willing to give up 3 units of food (vertical axis) in exchange for one unit of shelter (horizontal axis) and food is priced at 10 and shelter at 20, then the consumer is purchasing
A. just the right amount of each good for utility maximization. B. too much food for utility maximization. C. less than the budget would allow. D. too much shelter for utility maximization.
Recall the Application about federal quality standards in the market for kiwifruit to answer the following question(s).Recall the Application. The U.S. kiwifruit information asymmetry was reduced by advertising.
Answer the following statement true (T) or false (F)
Dividing the number seventy-two by an interest rate yields
A. the real interest rate after seventy-two years. B. the Rule of 72. C. the square root of seventy-two. D. the lowest common denominator of seventy-two.