In the figure above, what is Gap's excess capacity?
A) 32 jackets per day
B) zero
C) 4 jackets per day
D) 132 jackets per day
A
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During a time of high unemployment, a country can increase the production of one good or service
A) by using resources in the production process twice. B) without decreasing the production of something else. C) and must increase the production of something else. D) but must decrease the production of something else. E) but the opportunity cost is infinite.
A payday loan company has decided to open several new locations in the city. To decide where to open these locations it hires consultants and decides to pay them per location opened. The company should expect to see
a. A large number of badly selected stores b. A large number of well selected stores c. A small number of well selected stores d. A small number of badly selected stores
For a monopoly firm,
a. price always exceeds average revenue. b. price always exceeds marginal revenue. c. any price-quantity combination will maximize profits. d. All of the above are correct.
According to the following graph, at point A,
The price of Y is $50.
A. the consumer can exchange two units of X for one unit of Y and keep income unchanged. B. the consumer can exchange two units of X for one unit of Y and keep utility unchanged. C. the consumer receives twice as much marginal utility from X as from Y. D. both a and b E. all of the above