Refer to the accompanying figure.
This firm's marginal revenue curve would intersect the vertical axis at ________.
A. $20
B. $0
C. $35
D. $70
Answer: D
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Canned milk was only rationed to babies and small children during World War II. This rationing was an example of allocation by
A) market price. B) first-come, first-served. C) sharing equally. D) force. E) personal characteristics.
The relationship between the number of hours a student studies for an exam and the exam grade is most likely graphed as
A) a line sloping down from upper right to lower left. B) a line sloping down from upper left to lower right. C) a line sloping up from lower left to upper right. D) a line sloping up from lower right to upper left.
International specialization and trade according to the principle of comparative advantage is mutually beneficial for all economies involved
a. True b. False Indicate whether the statement is true or false
A rightward shift of the economy's labor supply curve would result from a(n)
a. cut in income tax rates or an increase in welfare benefits to the needy b. cut in income tax rates or a cut in benefits to the needy c. increase in income tax rates or a cut in benefits to the needy d. increase in income tax rates or an increase in benefits to the needy e. cut in income tax rates or a freeze on benefits to the needy