If the firm hires 8 workers, the total amount of fixed costs equals
a. $6200
b. $1000
c. $600
d. $1200
b
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If at a price of $24, Octavia sells 36 home-grown orchids and at $30 she sells 24 home-grown orchids, the demand for her orchids is
A) inelastic. B) unit elastic. C) perfectly elastic. D) elastic.
The government of Silverado raises revenue through a general income tax paid by all its residents to operate the city's marina. The marina is used by private boat owners. This method of raising revenue to operate the marina is
A) inconsistent with the benefits-received principle. B) consistent with the benefits-received principle. C) consistent with the ability-to-pay principle. D) inconsistent with the ability-to-pay principle.
Beta measures the relative risk of a company's stock relative to overall risk in the stock market
Indicate whether the statement is true or false
Which of the following is a characteristic of perfect competition?
A. differentiated products B. few firms C. easy entry and exit D. none of these