When demand is unit elastic
A) price and revenue move in opposite directions.
B) price and revenue are not related.
C) price and quantity demanded move in opposite directions.
D) price and revenue move in the same direction.
B
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In the figure above, what is the consumer surplus per day?
A) $100,000 B) $50,000 C) $125,000 D) $150,000 E) zero
Refer to Figure 4-15. How much of the tax is paid by buyers?
A) $2 B) $5 C) $7 D) $12
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a. and firms paying wages above equilibrium to improve worker health both create frictional unemployment. b. creates frictional unemployment, while firms paying wages above equilibrium to improve worker health creates structural unemployment. c. creates structural unemployment, while firms paying wages above equilibrium to improve worker health creates frictional unemployment. d. and firms paying wages above equilibrium to improve worker health both create structural unemployment.
Cost complementarity exists in a multiproduct cost function when:
A. the marginal cost of producing one output is increased when the output of another product is decreased. B. the marginal cost of producing one output is reduced when the output of another product is increased. C. the average cost of producing one output is reduced when the output of another product is increased. D. the average cost of producing one output is increased when the output of another product is increased.