Dr. X, an assistant professor at a large state university, is trying to decide how to allocate the 50 hours a week she spends working among the various activities expected of an assistant professor. The professor wants to maximize her raise next year and the table shows estimates of how time spent in each activity will contribute to her raise:
Given the above information, how should she allocate her time?
A. 20 hours research, 16 hours teaching, 14 hours service
B. 18 hours research, 16 hours teaching, 16 hours service
C. 20 hours research, 15 hours teaching, 15 hours service
D. 17 hours research, 17 hours teaching, 16 hours service
E. none of the above
Answer: C
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What will be an ideal response?
If the elasticity of demand for a product equals 3 and the supply is perfectly elastic, then if a tax is imposed on this product,
A) the buyer pays all the tax. B) the seller pays all the tax. C) the buyer pays 3/4 of the tax. D) the seller pays 3/4 of the tax. E) the buyer pays 4/3 of the tax.
Regulation that keeps the rate of return in the industry competitive is known as
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A. 11 B. 16 C. 30 D. 46