In determining whether and how much of a public good to provide, cost-benefits analysts use the same type of price signals for public goods as are readily available for private goods
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Table 1-6. Using marginal analysis, how many hours should Ivan extend his hours of operations?
A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours
Assuming that hamburger is an inferior good, an increase in consumer income, other things being equal, will cause a(n):
a. upward movement along the demand curve for hamburger. b. rightward shift in the demand curve for hamburger. c. downward movement along the demand curve for hamburger. d. leftward shift in the demand curve for hamburger.
In a two-person economy, Adam and Brandon both produce corn and cars. Adam's marginal cost of producing a car is 50 tons of corn, while Brandon's marginal cost is 70 tons of corn. In this economy, Brandon should produce cars and Adam should produce corn
Indicate whether the statement is true or false
Which of the following is an example of a factor payment?
a. The U.S. government pays Sunset Farms a subsidy of $1 million per year. b. Yves is an entrepreneur who earns a profit of $2 million for putting capital together for a firm. c. Alchemy Chemicals uses $500,000 to replace worn out equipment. d. Healthy Grocers pays $750,000 to increase its stock of organic preserves.