Firm X owns both a grocery store and the parking lot outside the grocery store. In order to increase the traffic at the store it must
a. Decrease the prices on the goods sold in the store
b. Decrease the parking rates
c. All of the above
d. None of the above
c
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Organizing production, obtaining financing, assigning workers to jobs, and dealing with suppliers are among the ways that ________ increases average labor productivity.
A. human capital B. an entrepreneur C. physical capital D. a manager
There may be a different criterion used for the long run, but for the short run, a firm should shut down production if price is less than
a. ATC b. AR c. MC d. AVC e. AFC
If a U.S. dollar exchanges for 0.6 English pounds, the dollar price of a pound is
a. $0.60. b. $1.50. c. $1.67. d. $1.75.
Here are the costs of going to college: tuition $5,000; books $200; housing $1,000; food $1,000; lost income from work $10,000. Studying and work are equally desirable in your mind. Suppose that you could work part-time and make $5,000 at a job you would volunteer to do. You live on campus instead of at home. What is the cost of going to school?
A. $7,200 B. $11,200 C. $5,200 D. $16,200