An example of a monopoly would be
A) one of many U.S. wheat farmers.
B) one of the few U.S. auto makers.
C) AT&T cell phone service.
D) the local water company.
E) Taco Bell
D
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Which of the following is consistent with the assumptions of marginal utility theory?
A) As Jose consumes more of one good, his marginal utility from consuming more of that good decreases. B) As Jose consumes more of one good, his marginal utility from consuming more of that good increases. C) As Jose consumes more of one good, his marginal utility from consuming more of all goods decreases. D) As Jose consumes more of one good, his marginal utility from consuming more of all good increases.
In the simultaneous move labor negotiation game:
a. Neither party prefers bargaining hard in the Nash equilibrium b. Both the parties want to end up in the least efficient outcome c. Both parties bargain hard in the Nash equilibrium d. Both parties want to stay in the prisoner's dilemma
In the 1980s, Howard was one of the best car phone repairmen in his area. After staying home in the 1990s and early 2000s to take care of his children, Howard wants to go back to work in the phone repair business. Which of the following can be said about Howard?
A. Howard's ability to repair car phones represents an obsolete skill. B. Because car phones are obsolete, Howard's human capital is less valuable. C. Howard's knowledge of how to repair car phones is obsolete, and his human capital is less valuable now than in 1980. D. All of these could be said about Howard.
Irving owns a chain of movie theaters. He is considering whether he should build a new theater downtown. The expected rate of return is 15 percent per year. He can borrow money at a 12 percent interest rate to finance the project. Should Irving proceed with this project?
What will be an ideal response?