What are the coordinates for the point on the MR curve?
a. P* and 0
b. P* and q"
c. MC and 0
d. MC and q*
d. MC and q*
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Input-output analysis is rarely used because
a. it requires tremendously complex calculations. b. it requires large amounts of data. c. market economies can instead rely on the price mechanism to organize production. d. All of the above are correct.
In the short run, a firm that finds itself earning a loss should compare the market price to which cost in order to determine how to minimize its losses?
A. Marginal costs B. Fixed costs C. Average total costs D. Average variable costs
Which of the following statements is correct?
a. Environmental degradation is an example of a free rider problem.. b. The division between public goods and common resources is clear-cut. c. Some goods, such as lighthouses, may be either private or public goods. d. The free-rider problem prevents governments from supplying public goods.
If there is employment discrimination against minorities, this will cause the
a. demand for their services to decline, and their wages to fall. b. supply of their services to decline, and their wages to rise. c. supply of their services to increase, and their wages to fall. d. demand for their services to decline, and their wages to rise.