Which of the following is true of the Industrial Revolution?
a. It led to a widening of income inequality between nations
b. It led to an increase in the foreign reserves of all nations.
c. It led to a twofold increase in the per-capita GDP of all nations.
d. It helped artisans produce the highest-quality products.
a
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What information does the government need to support an assertion that the 20-unit abatement standard is allocatively efficient?
Assume that there are two firms, each emitting 20 units of pollutants into the environment, for a total of 40 units in their region. The government sets an aggregate abatement standard (AST) of 20 units. The polluters' cost functions are as follows, where the dollar values are in thousands: Polluter 1: TAC1 = 10 + 0.75(A1)2, Polluter 2: TAC2 = 5 + 0.5(A2)2, MAC1 = 1.5A1, MAC2 = A2.
Jacko's rock band is putting out a new CD with its music label. The contract between the band and the label specifies that the band receive 25% of the gross revenues plus another $10,000 up front
The record label projects the demand for the album p = 50 - 0.003Q where p is the price per CD (in $) and Q is the number of CDs demanded. The cost (not including the band's salary) of producing the CD is constant at $5 per disc. a. Compute the joint-profit-maximizing price and quantity. b. Compute the profit maximizing price that the label will wish to set. c. What price will Jacko want his band's CD sold for? (Assume he only cares about money earned from the CDs.)
The VP in charge of product launches hypothesizes that a particular product would not be profitable, then killing a potentially profitable product is a
a. Type I error b. Type II error c. Type III error d. Type IV error
According to the graph shown, the market price is:
A. $15
B. $9
C. $11
D. $20