Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $10. What does profit equal when quantity equals 4?
A) $4
B) $10
C) $8
D) $40
B
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Air pollution caused by lead
A) has never been a pollution problem. B) is currently a major pollution problem. C) has mostly been eliminated as a pollution problem. D) is the number one source of pollution today.
If exports are being excluded unfairly from a market, the World Trade Organization (WTO) may authorize
A. Quotas. B. Other nontariff barriers. C. Retaliatory comparative advantages. D. Retaliatory tariffs.
Suppose an economy experiences an increase in technological progress. This increase in technological progress will
A) allow more output to be produced with the same number of workers. B) allow the same amount of output to be produced with fewer workers. C) lead to changes in the types of goods produced. D) all of the above E) none of the above
Refer to the above figure. The figure gives the payoff matrix for two individuals who are being accused of robbing a bank together. If Bob does NOT confess, what is the best strategy for Harry?
A. Confess. B. Don't confess. C. Flip a coin to decide what to do. D. There is no best strategy.