Dustin's copy shop can use four alternative plants. The figure above shows the average total cost curves for Plant 1 (ATC1), Plant 2 (ATC2), Plant 3 (ATC3), and Plant 4 (ATC4). Dustin's Plant 2 will be economically efficient if the firm produces
A) 2,000 copies per day.
B) 4,800 copies per day.
C) 5,300 copies per day.
D) 6,000 copies per day.
B
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Refer to Figure 21.1. If Area I = 1,700 and Area J = 3,300, what is the Gini coefficient?
A) 0.17 B) 0.34 C) 0.52 D) 2.94
________ and ________ oligopolies are similar in that they both compete on quantity.
A) Cournot; Bertrand B) Stackelberg; Bertrand C) Cournot; Stackelberg D) Stackelberg; Chamberlin
Suppose that John allocates $10,000 of his disposable income for necessities. Any additional income beyond that is both spent and saved. Assume he has a disposable annual income of $50,000 and an MPC=0.8. Based on this information the additional amount spent on non-necessities should be:
A. $10,000. B. $40,000. C. $32,000. D. $35,000.
When a country allows trade and becomes an exporter of goods both domestic consumers and domestic producers benefit
a. True b. False Indicate whether the statement is true or false