The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the marginal cost?
A) 200
B) 5Q
C) 5
D) 5 + (200/Q)
E) none of the above
C
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Pluralistic ignorance exists when
A) the members of a group believe one thing but mistakenly assume that most of the other members believe something else. B) a group of bystanders all agree that something needs to be done but each feels less personal responsibility for taking action because each perceives that there are others who could take action. C) a majority of people in a group do not have the intellectual capacity of arriving at a viable solution to a public goods problem. D) the least-capable member of a group exerts his influence over the rest of the group when trying to arrive at a decision on how to internalize an externality.
The Apple iPhone is sold in a box labeled "Made in China." A study by economists at the Asian Development Bank found the value of the iPhone components China ________ U.S. firms is ________ the value of assembling the iPhones in Chinese factorie
A) imports from; less than B) imports from; greater than C) exports to; greater than D) exports to; equal to
The founder of the American Federation of Labor was
a. George Meany b. Samuel Gompers c. Magna Carta d. Benjamin Franklin e. Abraham Lincoln
Why would the establishment of protective trade barriers be a poor way of protecting workers in domestic industries?
What will be an ideal response?