Refer to Exhibit 1-1. If the student whose study habits are illustrated here is currently studying for the 2nd hour she should
A) cut back on the number of hours she is studying because the marginal benefit of studying for the 2nd hour is less than the marginal cost of doing so.
B) cut back on the number of hours she is studying because the marginal benefit of studying for the 2nd hour is greater than the marginal cost of doing so.
C) increase the number of hours she is studying because the marginal benefit of studying for the 2nd hour is less than the marginal cost of doing so.
D) increase the number of hours she is studying because the marginal benefit of studying for the 2ndhour is greater than the marginal cost of doing so.
D
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When Dominant Pizza is willing to sell a pizza to a student who lives on-campus at a lower price than it sells the identical pizza to a student who lives a block away from the campus, the pizza firm is ________
A) practicing price discrimination B) unfair C) incurring a loss on on-campus sales D) eliminating all competition
Which of the following macroeconomic variables is acyclical?
A) Real interest rates B) Unemployment C) Money supply D) Consumption
A goal of libertarians is to provide citizens with equal opportunities rather than to ensure equal outcomes
a. True b. False Indicate whether the statement is true or false
When the principle of comparative advantage determines trade, then a country will
A) specialize only in that good with the highest opportunity cost. B) specialize only in goods with the lowest opportunity costs. C) specialize only in that good where output is less per worker hour than another country. D) specialize only in that good where production costs are more than average total costs.