Which of the following is not an argument for trade restrictions?
A) the national defense argument
B) the infant industry argument
C) the comparative advantage argument
D) the antidumping argument
C
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Suppose Sarah owns a small company that makes wedding cakes. The table below shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number ofCakes Per DayTotal CostPer Day0$1001$1802$2203$3004$4005$5206$660If the market for wedding cakes is perfectly competitive, and wedding cakes sell for $125 each, then at her profit-maximizing level of output, Sarah's profit will be ________ per day.
A. $90 B. $625 C. $105 D. $100
Refer to Figure 10.1. If two lights are installed, the people who were responsible for the light being installed each receive a payoff of
A) 2. B) 4. C) 6. D) 8.
In economics, which of the following is considered as financial capital?
a. Offices and warehouses b. Stocks and bonds c. Machinery d. Factories e. Equipment
After a hurricane in Florida knocked out the regional water supply for several days, the demand for bottled water increased sharply. In a market economy, how will this increase in demand affect the equilibrium price and quantity of bottled water?
A. Price will increase, and quantity will decrease. B. Price will decrease, and quantity will decrease. C. Price will decrease, and quantity will increase. D. Price will increase, and quantity will increase.