Employment discrimination is a source of
a. economic inefficiency.
b. increased economic growth.
c. innovation.
d. shifting production possibilities.
e. All of the above are correct.
a
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A manufacturer produces two types of computer software, Word processing (W) and Spreadsheet (S), which is offered to two different retail outlets (#1 and #2). The following table shows the maximum price each retail outlet is willing to pay for each individual software product. Product W Product S Retail #1 $170 $105 Retail #2 $95 $135 What is the optimal pricing strategy that will maximize
revenue for the manufacturer, given the maximum the retail outlets are willing to pay? a. Bundle both products (W and S) and sell them at $230. b. Price product W at $170 and Product S at $135. c. Price product W at $170 and Product S at $170. d. Price product W at $95 and Product S at $105. e. Bundle both products (W and S) and sell them at $275.
John Maynard Keynes was the author of the book, The Economics of Welfare, which first addressed environmental problems in terms of externalities
a. True b. False Indicate whether the statement is true or false
Refer to Table 3.2, which shows some costs and benefits of having your car repaired. What is the marginal cost of the 5th hour spent on repairs?
A. $360
B. $435
C. $510
D. $780
Comparative advantage in production is achieved by
A. Having a lower opportunity cost of producing a good relative to that of other countries. B. Being able to produce a good with fewer inputs than in other countries. C. Subsidizing, specializing, and lowering the price of an exported good. D. Having terms of trade that are better than the terms of trade faced in other countries.