Which of the following always decreases when output increases?
A) total fixed cost
B) marginal cost
C) average variable cost
D) average fixed cost
E) total cost
D
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Juanita goes to the Hardware Emporium to buy a new circular saw. She is willing to pay $120 for a new saw, but buys one on sale for $85. Juanita's consumer surplus from the purchase is
A) $35. B) $85. C) $120. D) $205.
Refer to the production possibility graph above. Assume that the economy is in equilibrium at point e. If the labor supply increases due to immigration, the new equilibrium is most likely to be
A) point h. B) point f. C) point d. D) point e. E) point b.
Straight line pay for performance
a. Eliminates the managers' incentives to lie about the budget b. Eliminates the perverse incentive to hide information c. Does not link compensation to meeting a budget target d. All of the above
________ is the tendency to experience losses as more painful than the pleasures that result from gains of the same magnitude:
A. Loss aversion B. The availability heuristic C. The present-aim standard of rationality D. Fungibility