Joe runs a business and needs to decide how many hours to stay open. Figure 2.2 illustrates his marginal benefit of staying open for each additional hour. Suppose that we observe Joe staying open 6 hours per day
If he is following the marginal principle, what must his marginal cost per hour be?
A) $16 B) $24 C) $32 D) $48
B
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A consequence of increasing marginal costs of producing laptop computers in the United States is
A) the United States will not export laptop computers. B) the United States will stop short of complete specialization in the production of laptop computers. C) the United States will likely impose trade restrictions on imported laptop computers. D) the United States will import laptop computers from countries that don't experience increasing marginal costs.
The money demand curve has a
A) positive slope because an increase in the price level increases the quantity of money demanded. B) negative slope because an increase in the interest rate decreases the quantity of money demanded. C) negative slope because an increase in the price level decreases the quantity of money demanded. D) positive slope because an increase in the interest rate increases the quantity of money demanded.
A legislature that fishing nets to have holes large enough for young fish to avoid capture is a regulatory change aimed at increasing the likelihood of reaching sustainable fish populations
Indicate whether the statement is true or false
An individual who holds some of her wealth in the form of money in order to pay rent and buy groceries is illustrating the transactions demand for money
a. True b. False Indicate whether the statement is true or false